News Article

News Article

Navigating the Shift: Insights on RMB’s Increasing Use in Global Trade

3 Jul 2023

On Wednesday, 26 June, 2023, the BritCham Shanghai Financial Services Committee and AustCham Shanghai FIT Forum joined forces to co-host a joint FIT (Finance, Investment & Tax) Industry Forum panel discussion.

Moderated by Thomas Horn, Head of China at Macquarie Group, delved into the evolving landscape of global trade with a focus on the increasing utilisation of the Chinese Renminbi (RMB) for international settlements. The discussion provided valuable insights into the potential impact of this shift on the global economy, businesses, and financial markets.

Esteemed panelists, including Allen Meng, Executive Vice President at BEA Bank (China), Jenny Qiao, Head of Markets at ANZ China, and Dr Weisi Xie, Shanghai Director at the Economist Intelligence Corporate Network (EICN), shared their expertise and perspectives from the realms of banking and economics, offering the audience valuable insights and analysis.

Following the panel session, participants from the BritCham Shanghai Financial Services Committee and AustCham Shanghai FIT Forum, along with representatives from the UK Department for Business and Trade (DBT), engaged in further discussions and knowledge exchange with the panelists, creating a collaborative environment to explore the implications of the RMB’s increasing prominence.

The event also included a post-panel social mixer at Bites & Bottle-O, providing an opportunity for attendees to network and forge meaningful connections within the financial services community.

About BritCham Shanghai’s Financial Services Committee:

The Financial Services Committee represents a diverse network of businesses operating in the financial sector in China. We support our community through knowledge-sharing events, advocacy and insights, and social events.

We share valuable insights about the business environment, financial regulation and economic updates in China. Our purpose is to learn together and share experiences with our stakeholders. We organise insightful events that open opportunities for members to network, collaborate, share expertise and to stay informed about the financial services sector.

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