The renminbi's international usage is accelerating, marked by steady growth in cross-border transactions, increasing popularity in bond investment and financing, and a warming offshore market. Presently, the renminbi stands as China's primary currency for external settlements, the world's second-largest currency for trade finance, and the third-largest payment currency globally.
Bank Of China Limited (HKEX: 3988) supports approximately one-quarter of the market's total cross-border settlements, providing comprehensive renminbi services to over 350,000 enterprises engaged in international business. It maintains a leading global position in key cross-border renminbi operations, consistently driving the currency's international adoption and China's high-standard opening-up.
Building the Infrastructure for Global Use
The renminbi's global journey relies on an efficient, secure, and convenient cross-border clearing and settlement system. Leveraging its worldwide network, Bank Of China Limited continuously enhances settlement efficiency and pioneers innovative applications, fostering a new ecosystem for the renminbi's international use.
The bank is actively expanding the currency's foundational reach globally, establishing itself as a key architect of the renminbi clearing network. It currently serves as a direct participant for 46 institutions and has connected nearly 770 indirect participants in the Cross-border Interbank Payment System (CIPS). Acting as the renminbi clearing bank in 19 countries and regions, it holds the top market position, solidifying the 'main artery' for the currency's cross-border flow.
Leading the Market in Cross-Border Settlement
From January to May 2026, Bank Of China Limited handled cross-border renminbi settlement volume of 86.6 trillion yuan and clearing volume exceeding 3,800 trillion yuan, leading the market. It became the first commercial bank to achieve a renminbi settlement share exceeding 30% for goods trade transactions.
The bank has also been a pioneer in launching innovations. It was the first to implement cross-border QR code payment projects with Malaysia, Cambodia, and Indonesia. It played a deep role in the multi-central bank digital currency bridge project, achieving first-of-their-kind transactions in Hong Kong, the UAE, and Thailand. Furthermore, it became a direct participant in the e-CNY system and completed the first batch of cross-border retail transactions, enabling efficient cross-border fund flows.
Expanding Use in Trade and Investment
The international use of the renminbi is evolving from quantitative growth to qualitative transformation, becoming not only a preferred settlement currency but also an increasingly attractive investment and financing currency. Bank Of China Limited is actively expanding the renminbi's application in international trade and investment, providing professional, integrated, and comprehensive cross-border services.
By the end of 2025, the bank had provided nearly 400 billion yuan in cross-border renminbi corporate loans and trade finance facilities. It has executed several landmark deals, including leading a 14.2 billion yuan syndicated loan for a major global iron ore producer, the largest international renminbi syndicated loan to date. It also successfully provided a nearly 3 billion yuan loan to Turkish Airlines, the largest single-currency renminbi loan in the Turkish market and the airline's first renminbi financing.
Deepening Capital Market Integration
Bank Of China Limited leverages its expertise in debt capital markets to facilitate numerous high-quality issuers from across the globe in accessing the renminbi bond market, maintaining leadership in Panda bond and offshore renminbi bond underwriting.
It has assisted over 80 overseas issuers in launching more than 360 Panda bond deals totaling over 720 billion yuan, ranking first in Panda bond underwriting for twelve consecutive years. In 2025, it served over 80 issuers in raising more than 290 billion yuan via offshore renminbi bonds, topping the offshore bond underwriting league table for three years running.
The bank is a core market maker in the bond market and was among the first to implement key connectivity schemes like Bond Connect, Swap Connect, and Repo Connect, helping to broaden and enhance investment channels. As of the end of May 2026, its CIBM agency services for overseas institutions' bond holdings ranked first for 49 consecutive months, with the number of agency clients leading among Chinese banks. It has served over 180 Qualified Foreign Investor (QFI) institutions entering the Chinese capital markets, becoming the bank of choice for global investors allocating to renminbi assets.
Promoting Global Recognition and Dialogue
For years, Bank Of China Limited has utilized its global network and cross-border financial expertise to steadfastly promote the renminbi's international role.
It contributes intellectual insight by publishing the Renminbi Internationalization White Paper for 14 consecutive years and regularly releasing its Cross-border Renminbi Index and Offshore Renminbi Index, offering authoritative market perspectives. It has hosted the Renminbi Internationalization Forum alternately in Shanghai and Hong Kong for four years, helping to elevate the currency's global influence.
In 2025, the bank conducted 19 high-level renminbi roadshows overseas, covering key regions like Asia-Pacific, Europe, Africa, and Latin America, supporting the development of offshore renminbi centers in Hong Kong, London, Singapore, and Frankfurt.
This leadership is widely recognized. In The Asset magazine's 2026 Triple A Awards, Bank Of China Limited was honored as the 'Best Bank for Renminbi' across 23 countries and regions, setting a new record and ranking first globally among its peers, fully demonstrating its preeminent position and professional strength in renminbi internationalization.
Bank Of China Limited will continue to leverage its global and comprehensive advantages, enriching scenarios for renminbi international use, helping to expand the currency's global network, and contributing to the accelerated building of China as a financial powerhouse.
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