Skip to content

Renminbi Globalisation Index rose 3.7% in April

10 Jun 2013

Standard Chartered today announced that the Standard Chartered Renminbi Globalisation Index (Bloomberg: SCGRRGI <index>), or the RGI, reached another record high of 925 in April, up 3.7% from March.

The expanding pool of Dim Sum bonds and certificate of deposits (CDs) was the biggest contributor to the increase of the RGI. While slowing issuance momentum in May will likely weigh on our next RGI update, we expect bond issuance to rebound in June and July on the offshore bond issuance by the Chinese government, among other positive factors.

London’s market share in the RGI surpassed Singapore’s for the first time since December 2011. London has maintained its recent lead over Singapore in terms of cross-border payments, and its CNH FX turnover has also been growing at a faster pace of late, reflecting London’s ability to capture Europe’s rising demand for the Renminbi. However, the recent launch of Renminbi clearing services is set to boost Singapore’s competitiveness.

Standard Chartered launched the RGI in November 2012. The Index covers the top three markets in offshore RMB business: Hong Kong, London, and Singapore. It measures business growth in four key areas: deposits (denoting store of wealth), Dim Sum bonds and Certificate of Deposits (as vehicles for capital raising), trade settlement and other international payments (unit of international commerce) and foreign exchange (unit of exchange). As the Renminbi further internationalises, there is capacity to include additional parameters and markets.

Standard Chartered Renminbi Globalisation Index


Objective The first industry benchmark that effectively tracks the progress of RMB business activity. Offers corporates and investors a quantifiable view of the latest trends, size and levels of offshore activity that are driving RMB adoption
Index Parameters Deposits
Dim Sum Bonds and Certificate of Deposits
Trade Settlement & Other International Payments
Foreign Exchange Turnover
Markets  Hong Kong
Investability Non-tradable
Frequency Monthly
Base value and date 100 at 31 December 2010
Inception Date  14 November 2012
Methodology Weight of each of the four parameters are inversely proportional to their respective variances


For further information, please contact:

Gabriel Kwan 
Head of Corporate and Business Communications
Tel: +852 2820 3036

Karen Ng
Assistant Manager
Tel: +852 2820 3263


Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at Follow Standard Chartered on XLinkedInInstagram and Facebook.