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The Asian Banker Global RMB Asset Ranking is an annual evaluation and ranking of leading financial institutions and their renminbi-denominated businesses outside of China.
This is the most comprehensive industry evaluation to date on renminbi assets introduced outside of China. The survey comprises of three different rankings: the first ranks the top jurisdictions seeking to be the major centre for the issuing, listing and distribution of renminbi assets by the aggregate size of assets and instruments, the second by financial institutions based on the aggregate renminbi business in different jurisdictions outside of China (incl. Hong Kong), and the third by financial institutions based on size of individual asset-type in specific jurisdictions that they operate in.
There is increasing interest from international financial centres to be the top renminbi clearing centre in their respective regions. The growth in renminbi-based deposits, assets, funds, payment products and innovations in trade finance and capital markets points to the increasing recognition that it will be a major international currency in a matter of time. And it is timely to now assess the success and sustainability of these institutions and their renminbi business taking place outside China. This in turn depends on the support of regulators, market players, and the demand and use of assets being created worldwide. All of these products are also affected by the current development of China and policies being introduced. The rise of renminbi is a proxy for the rapid development of China as the largest emerging market economy on the global stage.