The Bank of China’s London branch authorised as RMB clearing bank
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The Bank of China’s London branch authorised as RMB clearing bank 11 February 2026UK Reporter: Hansa Tote
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The People’s Bank of China has authorised the Bank of China’s (BOC’s) London branch as a renminbi clearing bank in Britain.
The central bank announced the decision in a memorandum of understanding with the Bank of England.
Drawing upon a century of expertise in cross-border finance and its established RMB clearing network, the BOC continues to strengthen supportive infrastructure for the internationalisation of RMN, according to the bank.
BOC also states that in the future, further efforts will be made to promote the development of London’s offshore RMB market, while pursuing continued innovation in areas such as trading, investment, financing, and clearing and settlement.
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