RMB Global Index Continued To Rise, Not Affected By Two-Way Fluctuations In Exchange Rate

Zhang Xiaolei, the chief executive director of the Standard Chartered Bank (China) Limited, said in an interview here on 8 days, that the latest phase of the Standard Chartered 's "Standard Chartered RMB global index" has risen to 1736, with a rise of 9.4% in the latest issue of the RMB exchange rate.

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< p > Zhang Xiaolei said that the index continues to rise, driven by a variety of factors, especially in Hongkong and Taiwan, as well as the increase in RMB deposits, cross-border trade settlement and foreign exchange trading volume.

This means that although the RMB exchange rate fluctuated before and after the easing of the volatility, the offshore RMB market remained dynamic.

In fact, foreign exchange movements make institutional investors more interested in the two-way trend of RMB.

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< p > it is understood that "Standard Chartered renminbi" a href= "//www.sjfzxm.com/news/index_cj.asp" > world index < /a > was founded in November 2012. It is the first indicator in the banking industry to trace offshore RMB development from various aspects.

In recent years, the index has been growing rapidly. The annual growth rate of < a href= "//www.sjfzxm.com/news/index_cj.asp" is less than /a, exceeding 80%, from the base number 0 in 2010 to 1736 in the latest phase of this year.

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< p > > a href= "//www.sjfzxm.com/news/index_cj.asp" > Zhang Xiaolei < /a > thinks that the growth of the Standard Chartered RMB global index is very strong, reflecting the activities of RMB in the offshore international customers and all aspects of the parameters, and is not affected by the two-way fluctuation of exchange rate.

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< p > from the composition of this index, the Standard Chartered first observed deposits, and the growth of RMB offshore deposits was still very strong. Deposits in Hongkong exceeded 900 billion yuan, while the other two markets, Singapore and Taiwan, respectively exceeded 200 billion yuan.

The second is to observe financing tools, such as certificate of deposit, dim sum debt, etc.

In addition, the index should pay attention to foreign exchange volume, trade settlement and so on. It is a multi index tracking index for offshore development of RMB.

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In terms of market expectations, Zhang Xiaolei reiterated that the future of the renminbi will inevitably develop into a major trade settlement currency. P

She said that Standard Chartered predicted that by 2020, nearly 30% of China's trade will be denominated in Renminbi, two times the current level.

RMB will become the fourth largest trading currency in the world, next to the US dollar, euro and pound sterling.

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< p > on the two-way fluctuation of the RMB exchange rate, she also indicated that the demand for further prevention and control of risks has increased, and there are already more mature risk products available in the offshore market. In the future, through the FTA, similar financial products that meet the requirements of the onshore market can be introduced into the onshore market.

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