BUSINESSJul 10 · 00:00 UTCSCMP WORLDJulie 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 to enhance global yuan usage. The facility, managed by the Hong Kong Monetary Authority, allows banks to borrow yuan at lower Shanghai interbank rates.

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Hong Kong Monetary AuthorityorganizationRMB Business FacilitytopicShanghai three-month interbank offered ratetopicChinese currencytopicHong Kongplace

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