The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney is part of the Euromoney Institutional Investor PLC
Northeast Asia

New Silk Road Finance Awards 2017 Middle East and Africa: Best bank for BRI-related finance

Bank of China

New_Silk_Road_Finance_Awards_2017-200   

BELT AND ROAD          

The internationalization of the renminbi goes hand in hand with China’s Belt and Road Initiative. As Chinese investment grows globally, so will the use of its currency. Indeed, some analysts expect full convertibility of the currency to come in the next few years.

One milestone came in September 2016 when the renminbi was adopted in the IMF’s Special Drawing Rights Basket. 

The currency is increasingly being considered as an international reserve currency, especially in Africa, which receives a lot of Chinese investment each year.

Making history

As Chinese investment flows into the Middle East and Africa, and as the renminbi continues to grow in importance, banks are expected to benefit from issuing renminbi-denominated debt.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree