Bank of China releases cross-border RMB index in November 2014
January 20, 2015 10:25:45 Source: Bank of China official website Click:

On January 16, the Bank of China released the November 2014 Cross border RMB Index (CRI). The results show that the CRI index of the Bank of China was 251 points in November 2014, up 9 points from the previous month. This month's index operation has the following characteristics:

The cross-border use of RMB remained generally stable, and overseas use was more active. Compared with the previous month, in November 2014, the proportion of RMB used for settlement under cross-border trade in goods, direct investment and other projects increased and decreased, which was relatively stable on the whole. The activity of RMB used for overseas payment and settlement increased significantly.

The regional distribution and concentration of RMB cross-border collection and payment increased slightly. The proportion of cross-border RMB receipts and payments between Hong Kong and mainland China in mainland cross-border RMB receipts and payments increased by 2 percentage points compared with October 2014, and the total proportion of cross-border RMB actual receipts and payments between Germany, France, Britain and Rwanda and China decreased by 3 percentage points.

The use of RMB in cross-border backflow links continued to be active, and the Shanghai Hong Kong Stock Connect under capital account contributed significantly to RMB backflow. Among the three components of the index, "outbound, transfer and repatriation", the use of RMB in the "cross-border repatriation" link is more active than in the "cross-border outflow" link. In November 2014, the net inflow of RMB under securities and derivatives investment increased by about 450% compared with the previous month. The net purchase of shares by Shanghai Stock Connect was about 39.5 billion yuan, and the net purchase of shares by Hong Kong Stock Connect was about 3.8 billion yuan. The return scale of RMB in the capital account in the current month was about twice that of the previous month.

The overall cross-border revenue and expenditure of RMB presents a net return state. In November 2014, RMB returned net for the second month in a row. Under the background of more obvious two-way fluctuation of RMB exchange rate, narrowing trend of domestic and overseas interest margin, and gradual expansion of capital account return channels, the cross-border circulation mode of RMB will continue to adjust and optimize in the process of adapting to changes in market environment.