Logo 18 Jan 2023

Deep dive | Letting go: How internationalization is freeing the RMB from PBoC control

Subscribe to keep reading.

Trivium Markets keeps you briefed on the latest developments in China markets policy.

Try it free

Already a subscriber? Log in.

Exec sum:

Its influence has weakened because the majority of foreign exchange transactions involving the RMB no longer occur in the onshore RMB market where the CNY is traded. The weight of activity has migrated to the offshore RMB market which trades the CNH and over which China’s central bank (PB...



More recent developments

Logo June 1, 2025
Breakdown | The weekly recap

It’s been less than three weeks since the US and China announced a 90-day tariff de-escalation – and already the détente appears to be breaking down before our eyes. At issue: Both sides are already accusing each other of not… Read More »

Logo May 22, 2025
Property roundup: Property sector recovery remains elusive

To view the roundup as a pdf, click here. The rundown Despite promising signs in late 2024, a rebound in China’s property sector has slipped out of sight. Official data on the sector, published earlier this week, point to a… Read More »

Logo May 20, 2025
Macro wrap: China’s economy powers through April

To read this macro wrap as a PDF, click here. Exec sum China’s economy carried its solid March momentum into April, beating expectations across the board. Exports were the clear standout in April’s data. Despite contending with an unprecedented 145% tariff… Read More »