RMB role increases in SE Asia

Warwick Powell | 鲍韶山 | CEO, BeefLedger

The RMB continues to increase its role in Asian economic interactions. According to data from SWIFT “as of June 30 (2020) the Philippines ranks first in Southeast Asia in terms of the growth rate of RMB clearing volume, ahead of countries like Singapore, Indonesia, and Malaysia."


It’s therefore no surprise that an RMB clearing house has been established in Manila.


Digitalisation of the RMB will only make it a more accessible and convenient tool for trade, investment and day to day Commerce.


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