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.
CIR
Current
Issue Date:
26 Jun 2025
20250626-1-EN.pdf (269.5 KB)
Topic:
Renminbi
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
CIR
Archive
02 Apr 2012
Renminbi (RMB) position squaring with the RMB Clearing Bank for trade-related conversions
CIR
Archive
08 Nov 2011
Renminbi (RMB) business – Requirements on position squaring with the RMB Clearing Bank
CIR
Archive
23 Dec 2010
Renminbi (RMB) cross-border trade settlement and net open position
Directly related Document
Cross referenced Document
Version History
CIR
Archive
02 Apr 2012
Renminbi (RMB) position squaring with the RMB Clearing Bank for trade-related conversions
CIR
Archive
08 Nov 2011
Renminbi (RMB) business – Requirements on position squaring with the RMB Clearing Bank
CIR
Archive
23 Dec 2010
Renminbi (RMB) cross-border trade settlement and net open position