The Hong Kong Monetary Authority (HKMA) designated 12 banks as Primary Liquidity Providers (PLPs) for Hong Kong’s offshore renminbi market and increased the total renminbi repo facility dedicated to them from RMB 20 billion to RMB 22 billion. The designations take effect on Oct. 27, 2026, for a term of two years following the expiry of the current term. The expanded facility will provide additional liquidity support to the offshore renminbi market. Selection criteria included banks’ capacity to provide offshore renminbi funding and make markets in offshore renminbi instruments, alongside their commitment to using Hong Kong as a global hub for offshore renminbi business.
Hong Kong Monetary Authority designates 12 offshore renminbi liquidity providers and expands repo facility to RMB 22 billion
The Hong Kong Monetary Authority designated 12 banks as Primary Liquidity Providers for a term of two years starting Oct. 27, 2026. The total renminbi repo facility available to these banks will rise from RMB 20 billion to RMB 22 billion, increasing liquidity support for Hong Kong’s offshore renminbi market.