Deutsche Bank Gets HKMA Nod for Offshore RMB

The Hong Kong Monetary Authority (HKMA) has unveiled latest list of banks designated as Primary Liquidity Providers (PLPs) for the offshore Chinese renminbi market, adding Deutsche Bank as a 12^th institution.

The designation lasts for two years, effective 27 October 2026, and Deutsche joins Agricultural Bank of China, Bank of China (Hong Kong), Bank of Communications, BNP Paribas, China CITIC Bank International, China Construction Bank (Asia), Citibank, Hang Seng Bank, HSBC, Industrial and Commercial Bank of China (Asia), and Standard Chartered Bank (Hong Kong) on the list.

The designation forms part of the HKMA’s efforts to enhance liquidity support for the offshore RMB market and further strengthen Hong Kong’s position as a major offshore RMB hub. As part of the latest enhancements to the scheme, the HKMA will increase the total RMB repo facility available to PLPs from RMB 20 billion to RMB 22 billion, providing additional liquidity support to the market.

” This designation underscores Deutsche Bank’s commitment to supporting RMB internationalisation and facilitating the growing flow of trade, investment and capital between China and global markets,” says Joe Lai, Deutsche Bank’s CEO for Hong Kong SAR and head of investment banking & capital markets, APAC. “Hong Kong plays a pivotal role as the leading offshore RMB centre, and we look forward to working with the HKMA and market participants to further deepen market liquidity, strengthen the offshore RMB ecosystem and support Hong Kong’s continued leadership as a global hub for offshore RMB business.”