DBS appointed as Singapore's second renminbi clearing bank (www.reuters.com)

submitted 11 hours ago* (last edited 11 hours ago) by schizoidman@lemmy.zip to c/globalnews@lemmy.zip

0 comments fedilink hide all child comments

cross-posted from : https://lemmy.zip/post/55357749

The Monetary Authority of Singapore, the city state's central bank, said in a statement on Monday that the appointment of DBS as an RMB clearing bank will "support further growth of the offshore RMB market in Singapore, and facilitate the use of RMB for trade, investment and other economic activities in line with regional needs".

In a separate agreement, the Singapore branches of ICBC and Bank of China will launch a pilot programme to allow travellers from Singapore to open and top up digital RMB wallets for merchant payments in China by year-end.

Both countries also agreed to commence an "over-the-counter" bond market arrangement.

no comments (yet)

sorted by: hot top controversial new old

there doesn't seem to be anything here

this post was submitted on 20 Dec 2025

5 points (100.0% liked)

Global News

4521 readers

171 users here now

What is global news?

Something that happened or was uncovered recently anywhere in the world. It doesn't have to have global implications. Just has to be informative in some way.

Post guidelines

Title format

Post title should mirror the news source title.

URL format

Post URL should be the original link to the article (even if paywalled) and archived copies left in the body. It allows avoiding duplicate posts when cross-posting.

[Opinion] prefix

Opinion (op-ed) articles must use [Opinion] prefix before the title.

Country prefix

Country prefix can be added to the title with a separator (|, :, etc.) where title is not clear enough from which country the news is coming from.

Rules

This community is moderated in accordance with the principles outlined in Article 19 of the Universal Declaration of Human Rights, which emphasizes the right to freedom of opinion and expression. In addition to this foundational principle, we have some additional rules to ensure a respectful and constructive environment for all users.

1. English only

Title and associated content has to be in English.

2. No social media posts

Avoid all social media posts. Try searching for a source that has a written article or transcription on the subject.

3. Respectful communication

All communication has to be respectful of differing opinions, viewpoints, and experiences.

4. Inclusivity

Everyone is welcome here regardless of age, body size, visible or invisible disability, ethnicity, sex characteristics, gender identity and expression, education, socio-economic status, nationality, personal appearance, race, caste, color, religion, or sexual identity and orientation.

5. Ad hominem attacks

Any kind of personal attacks are expressly forbidden. If you can't argue your position without attacking a person's character, you already lost the argument.

6. Off-topic tangents

Stay on topic. Keep it relevant.

7. Instance rules may apply

If something is not covered by community rules, but are against lemmy.zip instance rules, they will be enforced.

Companion communities

!legalnews@lemmy.zip - International and local legal news.
!technology@lemmy.zip - Technology, social media platforms, informational technologies and tech policy.
!interestingshare@lemmy.zip - Fascinating articles, captivating images, satisfying videos, interesting projects, stunning research and more.
!europe@lemmy.dbzer0.com - News and information about Europe.
!usa@midwest.social - News and information about United States of America.

Icon generated via LLM model | Banner attribution

If someone is interested in moderating this community, message @brikox@lemmy.zip.

founded 2 years ago

MODERATORS

BrikoX@lemmy.zip