ICBC Pakistan and Overseas Investors Chamber of Commerce and Industry jointly held a webinar on the subject RMB: Development, Infrastructure and Products.
The webinar was aimed at facilitating local markets understanding and utilization of RMB, and further in the light of some interest in a new circular by PBC (People’s Bank of China), effective from March 1, 2022, to allow Chinese Commercial banks in China directly lend RMB to overseas entities.
Renminbi (RMB, also known as Chinese Yuan) has become the most effective currency in hedging exchange rate risk, said OICCI release on Tuesday.—APP
