RMB is the abbreviation for Renminbi, the official currency of China.
人民币是中华人民共和国的官方货币。
The exchange rate between USD and
RMB fluctuates daily.
美元和人民币之间的汇率每天都在波动。
I paid 50
RMB for this book.
我花了50元人民币买了这本书。
You can withdraw
RMB from ATMs in China using your international debit card.
你可以用国际借记卡在中国的自动取款机上提取人民币。
The cost of living in Beijing has increased significantly in recent years, with
RMB appreciation playing a role.
近年来，北京的生活成本显著增加，人民币升值是其中的一个因素。
The symbol for
RMB is "¥".
人民币的符号是"¥"。
When traveling to China, it's advisable to have some
RMB cash on hand for small purchases.
前往中国旅行时，最好准备一些人民币现金以备小额购物。
The
RMB was fully convertible for trade transactions in 1996.
人民币在1996年实现了经常项目下的完全可兑换。
Many global companies now invoice in
RMB to cater to the growing Chinese market.
许多全球公司现在都开始用人民币开票，以迎合不断增长的中国市场。
The International Monetary Fund (IMF) included the
RMB in its Special Drawing Rights (SDR) basket in 2016.
国际货币基金组织（IMF）在2016年将人民币纳入其特别提款权（SDR）篮子。
The starting price is RMB 175,800.
起价人民币17.58万元。
"The Bank of China will make greater efforts to realize a higher year-on-year growth of domestic RMB loans in the second half and for the full year," said Lin Jingzhen, executive vice-president of the bank.
中国银行执行副行长林景珍表示：“下半年和全年，中国银行将加大力度实现国内人民币贷款同比增长。”。
Committed to using digital innovation to improve the security and efficiency of cross-border trade, Rio Tinto and China Baowu pioneered the industry's first fully-integrated RMB paperless trade in May 2020.
力拓集团和中国宝武集团致力于利用数字创新提高跨境贸易的安全性和效率，于2020年5月率先实现了行业首个完全一体化的人民币无纸化贸易。
The trial of digital RMB was later expanded to Shanghai, Hainan province, Changsha of Hunan province, Xi'an of Shaanxi province, Qingdao of Shandong province and Dalian of Liaoning province by October 2020.
到2020年10月，数字人民币的试点范围已扩大至上海、海南省、湖南省长沙市、陕西省西安市、山东省青岛市和辽宁省大连市。
Notably, the closing of these funds coincides with one upcoming closing of its RMB fund, with a total committed capital of approximately 3.4 billion yuan ($525 million).
值得注意的是，这些基金的关闭时间正好与其一只人民币基金的关闭时间相吻合，该基金承诺的资本总额约为34亿元人民币（52.5亿美元）。
Following the "Measures for Domestic Securities and Futures Investment by Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors" issued by the China Securities Regulatory Commission (CSRC), the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) on Sept 25th, 2020, QFII is allowed to conduct margin trading and stock borrowing & lending business on December 29.
根据中国证券监督管理委员会(CSRC)、中国人民银行(PBOC)和国家外汇管理局(SAFE)于2020年9月25日发布的《合格境外机构投资者和人民币合格境外机构投资者境内证券期货投资管理办法》，自2020年12月29日起，合格境外机构投资者(QFII)被允许进行融资融券和股票借贷业务。
Priced from 5,399 RMB ($765), OnePlus 8 Pro comes with a 120Hz-refresh-rate display, which is designed to offer customers a smoother and more vivid watching experience.
- The HBIS Group, one of the world's largest steelmakers based in northern China's Hebei province, has imported iron ore from the Brazilian mining giant Vale in use of RMB clearing.
It was the first time for the group to settle in RMB with iron ore imports, and it was also the first time that Vale adopted the iron ore futures prices released by the Dalian Commodity Exchange (DCE) as pricing references, according to the HBIS Group.
The strengthened regional economic cooperation due to this initiative will push the agenda for RMB internationalization.
Due to the expansion of RMB internationalization, we see more and more offshore entities using the yuan as a trading currency and for international settlements.
We believe that with the growing maturity of multinational corporations' operations onshore in China, foreign parent companies will be increasingly seeking to tap the domestic bond market as an important and highly cost-effective source of RMB funding to support their Chinese expansion needs.
In 2016, the Bank of China London Branch was entrusted by the Ministry of Finance of China to issue RMB sovereign bond.
JPMorgan Chase was recently appointed by China's central bank as an RMB clearing house in the US.
A very recent example is that we have just been designated as the first non-Chinese bank to clear RMB in the United States.
As the RMB becomes a more international currency, this is becoming increasingly important to our clients.
We agreed to create the China-Russia RMB (Renminbi) Investment Cooperation Fund.
"Sydney's branch is also the first Chinese bank in Australia to issue banking cards, supporting both Australian dollars and RMB and successfully issued the first eight year-RMB bond in the Australian market.
"As well, the branch now holds the distinction of being appointed as Australia's RMB clearing center, making it easier for various Australian and Chinese companies to do business.
It launched its RMB notes business in 2011.
The tendering documents (including electronic documents) are priced at RMB 2,000 Yuan and this amount is non-refundable.
If it is required to purchase the tendering documents at any other place, postage charges of RMB 50 Yuan shall be payable additionally, and in such cases the purchase price for such tendering documents shall be remitted into the account of the agent and the scanned copy of remittance evidence shall be sent to email address of the tendering agent and the purpose of remittance, name of entity, contact person, address and telephone number, email address , etc.
The bid security shall be: RMB eight hundred thousand Yuan (800,000.00 yuan)8.
- China will boost the internationalization of the RMB, guard against systemic risks, and foster a sound monetary and financial environment, according to the country's central bank.
China will improve the basic institutional arrangements and infrastructure for cross-border RMB use, and enhance its ability to serve the real economy and promote high-quality development, People's Bank of China official Li Bin told Xinhua in an interview.
Official data shows that in the first 11 months of 2023, cross-border RMB transactions amounted to 48 trillion yuan (about $6.76 trillion), up 24 percent year-on-year.
According to data provided by global financial messaging services provider Society for Worldwide Interbank Financial Telecommunication (SWIFT) on Thursday, the RMB became the fourth most active currency for global payments by value in November.
The RMB's share in global payments stood at 4.61 percent last month, up from 3.6 percent in October.
The value of payments made with the RMB increased by 34.87 percent over the previous month in November, while the increase was around 5.35 percent for the other major currencies.
Meanwhile, the RMB ranked as the second most frequently used global currency in the trade finance market in November, next to only the US dollar.
Alicia Garcia-Herrero, Asia-Pacific chief economist for French bank Natixis, wrote in an article in the Financial Times on Dec 6 that the RMB has made "impressive" achievements in 2023 in terms of faster increase in its cross-border use.
Some RMB international payments are settled through China's Cross-border Interbank Payment System instead of SWIFT.
This means that the share of RMB in global cross-border transactions might be underestimated, she said.
China's efforts to realize more trade settlements in RMB, geopolitical concerns, bilateral currency swaps between the People's Bank of China and more than 30 central banks, and the increasing number of RMB clearing centers offering more RMB liquidity offshore, have all contributed to the wider use of the Chinese currency in the international market.
On top of that, China's economic power is another key factor elevating the RMB's international importance, she said.
Despite the increasingly complicated global economic environment and significant volatility in the foreign exchange market worldwide, the RMB's exchange rate has remained relatively stable this year, thanks to China's trade resilience and gradual recovery of market sentiment.
As calculated by experts from UBS Global Wealth Management's Chief Investment Office, the RMB has gained over 2.5 percent against the US dollar since November.
"Stability" is the key word to describe the RMB's outlook for 2024, as the Chinese government is expected to introduce more supportive policies to further drive up economic growth, they said.
Meanwhile, settlement and sales of foreign exchange, as well as cross-border capital flows, will further improve, boosting the RMB's performance, he said.
Furthermore, the conference stressed the urgent need to step up risk mitigation in the financial sector, calling for efforts to maintain stable operation of the financial market, prevent risks from migrating across regions, markets and borders as well as strengthen foreign exchange market management while keeping the RMB exchange rate broadly stable at a reasonable, balanced level.
The risks of cross-border capital flows and RMB exchange rate fluctuations were highlighted.
As financial openness gradually extends from long-term to short-term capital such as securities investments like stocks and bonds, the marketization of the RMB exchange rate continues to deepen, leading to frequent deviations from market fundamentals.
China's cross-border capital flows and the RMB exchange rate are significantly influenced by foreign capital as the country's stock, bond, foreign exchange, currency and commodity markets become increasingly open.
As a vital component of expanding two-way financial market opening and an indication of China's growing global influence and overall strength, the promotion of RMB internationalization should be pushed ahead with diligence and prudence.
A report released by the People's Bank of China, the country's central bank, stated that in the first quarter, the RMB internationalization index increased by 10.2 percent year-on-year to 3.26.
Major international currencies like the US dollar and euro are all valued much higher than the RMB, with their index standing at 57.68 and 22.27, respectively.
This shows that there is still a significant gap in the level of RMB internationalization compared to other major international currencies, indicating that there is still a long way to go before the RMB is truly deemed as internationalized.
Moreover, in line with the RMB internationalization process, it is imperative to support the development of a higher-level policy framework for integrated local and foreign currency pooling, as well as to improve the unified management, expansion and upgrading of this practice.
To further support China's going-global initiative and the BRI, the RMB internationalization should take advantage of the opportunities presented by the multipolar development of the international monetary system.
In this way, RMB assets can help facilitate the economic growth and financial stability of Belt and Road countries, he said.
- Cross-border renminbi (RMB) payments and receipts expanded 24 percent year on year to 38.9 trillion yuan ($5.42 trillion) in the first nine months, playing an improved role in serving the real economy, China's central bank said.
Of the total, cross-border goods trade settled in RMB accounted for 24.4 percent of the total cross-border goods trade settled in both domestic and foreign currencies, up 7 percentage points year on year and the highest level seen in recent years, per a report released by the People's Bank of China.
The function of the RMB as a financing currency continues to improve.
Policies related to practices such as overseas lending by domestic banks and domestic bond issuance by overseas institutions have been introduced, and the RMB investment and financing environment has continued to improve, the report said.
Trading on the offshore RMB markets has become more active.
The balance of RMB deposits on the main offshore markets was about 1.5 trillion yuan at the end of 2022, returning to a historic high, the report said.
The central bank will work to facilitate trade and investment, improve systems and infrastructure related to RMB cross-border investment, financing and transaction settlement, and support the healthy development of the offshore RMB markets.
One area would be the further internationalization of the RMB, where we see ourselves being able to play an important role.
Improving the financial infrastructure for the internationalization of the RMB is essential, and the launch of CIPS will bring China closer to having a major currency for both trade and investment purposes.
We look forward to combining CIPS with financial innovation to provide greater convenience and a wider variety of RMB products for our clients.
Looking ahead, Liu Richeng, director of the futures department of Xiwang International Trade Co Ltd, said that although the RMB gold market has shown a relatively independent trajectory this year, it is still driven by the international market in general.
Liu said that both RMB and international gold prices fell in late September, which can be regarded as a correction to the price difference between the domestic and global gold markets.
In addition, it should be noted that the RMB has outperformed nearly every other developing nation's currency in the January-August period.
The average depreciation rate of currencies in developing nations — relative to the United States dollar over the past three decades — has approached 90 percent, whereas the RMB has appreciated.
Therefore, since a mild depreciation of the RMB is also beneficial to exports and job creation, there is no need to worry too much about it at present.
"Cross-border RMB settlements valued at over a billion yuan have gone through our platform, with the volume expected to surge to more than 7 billion yuan at the end of the year," she added.
It will support Shanghai and Suzhou in jointly launching digital RMB pilot projects, the NDRC said.
MNCs in China will be allowed to handle directly both the payment and receipt businesses denominated in the RMB and foreign currencies for their overseas member enterprises.
Multinational companies in China will be allowed to directly handle payment and receipt businesses both denominated in RMB and foreign currencies for its overseas member enterprises.
Although the depreciation of the RMB exchange rate in recent months has increased the profitability of export-oriented enterprises and enhanced the willingness of foreign customers to place orders to a certain extent, the overall external demand for China's exports has not yet improved, Zhang said.
Third, China can expand bilateral financial cooperation and actively promote cross-border RMB settlements to reduce the adverse impact of changes in liquidity of major international currencies on bilateral trade and investment.
He also said that Chinese and French financial institutions in the future will strengthen the connectivity of capital markets, deepen cooperation in the RMB business and jointly expand the overall market.
According to the "International Reserve Management Report" released by the central bank on its official website, the increase of the RMB's share in Brazil's international exchange reserves reflects the deepening economic ties between Brazil and its largest trading partner -- China.
The report said that by the end of 2022, the proportion of the RMB in Brazil's international exchange reserves had reached 5.37 percent, exceeding the proportion of the euro at 4.74 percent.
The RMB became one of Brazil's international exchange reserve currencies in 2019.
"At the same time, with increasing openness in China's financial market, the investment and risk-aversion attributes of RMB assets are increasingly prominent, attracting more foreign investors to steadily invest in the domestic market," she said, adding China's foreign exchange market can better adapt to changes in the external environment.
DBS is also very interested in the development of digital RMB and looks forward to opportunities for digital RMB to "go abroad".
DBS is actively seeking suitable digital RMB landing scenarios in the Singapore market and is in discussions with the Monetary Authority of Singapore and relevant authorities in China to pioneer in this area.
With our unique network strength, local expertise and innovation capabilities, we're committed to bridging and accelerating domestic and international circulation for China, in areas such as RMB internationalization, the Belt and Road Initiative, GBA, the Yangtze River Delta region, capital market opening, cross-border trade, sustainable finance, small and medium-sized enterprises and wealth management.
The investment is well on track to cover areas including digitalization, branch and networks, risk management and compliance, and key business capabilities such as RMB internationalization and wealth management.
We hope that the digital RMB will have the opportunity to go offshore.
DBS is already the largest offshore RMB dealer in Singapore, as well as an active offshore RMB dealer in Hong Kong, and we hope to facilitate the use of RMB as a trade currency in the international market.
In addition, we are exploring opportunities for digital RMB to go abroad, such as to Singapore, and to find good scenarios to implement.
For the whole of 2022, RMB deposits increased 26.26 trillion yuan, a year-on-year increase of 6.59 trillion yuan, of which household deposits increased 17.84 trillion from 9.9 trillion in 2021.
Investors' optimism on the Chinese capital market has firmed up Chinese currency RMB, which appreciated over 6 percent against the U. S. dollar since the end of November 2022.
The short-term announcement effect of the China's optimization of COVID-19 response is RMB positive as growth and equities are re-priced, said Claudio Irigoyen, a senior strategist with Bank of America in a recent note.
Yiwu, China's commodities hub located in East China's Zhejiang province, also launched 10 measures on Dec 12 to keep employees during the holiday, including consumption and transportation subsidies, digital RMB red envelopes, as well as production subsidies to enterprises.
These include the need to prevent real estate bubbles, avoid a stock market sell-off, safeguard against rampant inflation, and stabilize the RMB exchange rate.
In terms of the RMB exchange rate, now that the appreciation of the US dollar has ended and interest rate hikes outside China have slowed, the pressure of RMB appreciation is gradually picking up.
In addition, the depreciation of RMB against the US dollar will further enhance the competitiveness of Chinese goods in overseas markets.
Thanks to the sound long-term fundamentals of China's economy, the RMB exchange rate has remained relatively stable against a basket of currencies since the beginning of the year, according to Yi.
The RMB exchange rate will continue to remain relatively stable at a reasonable and appropriate level, maintaining its purchasing power and keeping its value stable, Yi said.
The city of Shenzhen in South China's Guangdong province is giving out digital RMB red envelopes valued at 30 million yuan ($4.51 million) through on-demand services platform Meituan to boost consumption and business recovery.
Xi'an has built the "Silk Road" cross-border e-commerce RMB settlement service platform for Shaanxi, which was selected as one of the "best practice cases" from national FTZs.
By now, more than 300 trading enterprises have registered on this platform, with a total cross-border RMB settlement amounting to 27 million.
Containment steps seen mitigating impact of RMB fluctuations on bizChina's dynamic zero-COVID policy will help put the growth of its foreign trade on a firmer footing and mitigate the impact of fluctuations in the Chinese renminbi exchange rate against the greenback on business this year, experts and business leaders said on Monday.
Shenzhen's Futian district is handing out 15 million yuan ($2.29 million) red envelopes in digital RMB and 15 million yuan in regular coupons.
It stated that China will further improve trade and investment facilitation, boost the role of RMB settlement in supporting trade and investment, and strengthen cooperation in high-end industrial chain and manufacturing projects to foster a diversified global supply chain network.
Furthermore, sustained efforts will be made to stabilize foreign trade and investment, and the RMB exchange rate will be kept generally stable at an adaptive, balanced level.
Banks will be guided toward developing new products around the needs of foreign trade enterprises, including insurance policy-based financing, and the RMB exchange rate will be kept basically stable, to make foreign trade enterprises more resilient to exchange rate risks.
未经许可，严禁转发。QQ交流群：688169419