In March 2014, Bank of China launched the Off-shore RMB Index (ORI) to the world for the first time. Following the Cross-border RMB Index launched last year, this is another comprehensive index introduced to the market by BOC, leveraging its research capabilities and professional expertise to reflect the level of RMB internationalization.

The index comprehensively and accurately tracks the process of RMB internationalization. With the acceleration of cross-border RMB usage, the off-shore stock of RMB is increasing, usage channels are diversifying, and various RMB financial market products are continuously emerging. The status of the RMB in the international financial markets is becoming increasingly important.

BOC's ORI is a comprehensive assessment of the development level of the RMB in off-shore financial markets, considering aspects such as the scale of its capital stock, capital utilization, and the use of financial instruments. 

The index consists of five categories of indicators: the proportion of off-shore RMB deposits in total off-shore deposits of all currencies, the proportion of off-shore RMB loans in total off-shore loans of all currencies, the share of the outstanding balance of international bonds and equity investments denominated in RMB among all currencies, the share of RMB in global foreign exchange reserves, and the share of RMB foreign exchange trading volume in the total foreign exchange trading volume of all currencies. 

These categories correspond to the five international currency functions of the RMB: store of value, financing currency, investment currency, reserve currency, and transaction currency. The ORI performs a comprehensive weighted calculation on the proportion of RMB to all currencies within these five indicators, reflecting the development level of the RMB in international financial markets.