Offshore renminbi liquidity facility expands to RMB22 billion
Twelve banks will serve as Primary Liquidity Providers under Hong Kong Monetary Authority (HKMA) designations announced on October 23, 2026. The scheme's total renminbi repo facility will increase from RMB20 billion to RMB22 billion.
Two years of liquidity provision
The twelve Primary Liquidity Providers (PLPs) will begin a two-year term on October 27, 2026, following the expiry of the current term.
Their dedicated renminbi (RMB) repo facility supports Hong Kong's offshore renminbi market, known as the CNH market.
Selection criteria included banks' capacity to provide CNH funding, make markets in CNH instruments and commit to Hong Kong as a global offshore RMB business hub.
The HKMA said the expanded facility would enhance liquidity support and strengthen Hong Kong's position as that hub.
It regularly reviews the scheme's operation and providers' performance, considering refinements to both the number of PLPs and the repo facility's size.
The twelve designated banks
The designated banks are Agricultural Bank of China Limited; Bank of China (Hong Kong) Limited; Bank of Communications Co.
, Ltd.; BNP Paribas; China CITIC Bank International Limited; China Construction Bank (Asia) Corporation Limited; Citibank, N.A.; Deutsche Bank AG; Hang Seng Bank, Limited; The Hongkong and Shanghai Banking Corporation Limited; Industrial and Commercial Bank of China (Asia) Limited; and Standard Chartered Bank (Hong Kong) Limited.
More capacity for CNH
The expansion increases dedicated repo capacity for the designated providers.
The HKMA links that additional support to Hong Kong's offshore RMB hub role.
Its continuing reviews cover both provider performance and the size of the liquidity facility.