Regulatory Alerts2025-06-26
Added · Updated
Currency Conversion Arrangement Involving Onshore RMB (CNY) under RMB Cross-border Trade Settlement Scheme
The Hong Kong Monetary Authority issued this Circular on June 26, 2025, to update regulatory requirements for authorized institutions regarding onshore Renminbi conversions. The document supersedes previous circulars from 2010, 2011, and 2012 that governed RMB position squaring and net open positions with clearing banks. It establishes the current framework for handling cross-border trade settlement conversions involving onshore CNY.
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