Central Bank: Further promote the cross-border use of the Renminbi and consolidate and enhance Hong Kong's status as an international financial center
According to ChainCatcher news, the People's Bank of China held the 2025 Macro-Prudential Work Conference from February 17 to 18. The meeting pointed out that in 2024, the central bank improved the management of cross-border RMB business and enhanced the level of cross-border financial services. By the end of the year, the RMB had risen to become the fourth largest payment currency and the third largest trade financing currency in the world, with a steady increase in its level of internationalization.The work priorities for 2025 include: developing the offshore RMB market, strengthening the role of currency swaps and RMB clearing banks, enhancing cross-border payment, pricing, and investment financing functions, facilitating trade and investment financing, and accelerating the construction of the Shanghai International Financial Center while consolidating and enhancing the status of Hong Kong as an international financial center. In addition, the central bank will also improve real estate financial management to help stabilize the real estate market.