BNP Paribas is pleased to announce that it has been designated as a primary liquidity provider for the offshore Renminbi (RMB) market in Hong Kong (the “Primary Liquidity Provider”) by the Hong Kong Monetary Authority (HKMA).
As a Primary Liquidity Provider, BNP Paribas shall work closely with the HKMA to:
- promote the use of the Hong Kong RMB liquidity pool to provide offshore RMB funding to other financial institutions and corporate customers ;
- extend the usage of RMB in the global offshore capital markets and in particular in the foreign exchange, interest rate, equity and derivative space through its global product platform; and
- expand its RMB Competence Centre in Hong Kong as per the group’s strategy in order to promote the international use of RMB and capture RMB business opportunities worldwide for clients.