BUSINESSJul 10 · 00:00 UTCSCMP CHINAJulie Zhang,Enoch Yiu

How the RMB Business Facility will help consolidate Hong Kong’s financial role

Hong Kong launched an updated RMB Business Facility with a 150% larger quota, enhancing the use of the Chinese currency in global business. The facility, managed by the Hong Kong Monetary Authority, allows banks to borrow yuan at the Shanghai three-month interbank offered rate.

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RMB Business FacilitytopicHong Kong Monetary AuthorityorganizationHong KongplaceChinese currencytopicShanghai three-month interbank offered ratetopic

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