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fxJul 7, 2026, 7:03 PM

PBoC Expands RMB Business Facility and Southbound Bond Connect Quotas, Boosts Hong Kong Yuan Hub

The People's Bank of China has increased quotas for the Renminbi Business Facility and Southbound Bond Connect, reinforcing Hong Kong's role as the main offshore yuan hub, according to BNY's Geoff Yu.

USDCNH

The People's Bank of China (PBoC) has expanded the Renminbi (RMB) Business Facility and Southbound Bond Connect quotas, according to a report from BNY's Geoff Yu. The move is designed to strengthen Hong Kong's position as the primary offshore yuan center.

Specific quota amounts were not disclosed in the report. The expansion is viewed as a step to further internationalize the yuan and support cross-border capital flows.

Source: FXStreet Forex News