BOC Promotes International Use of RMB at City Giving Day in London

Bank of China marked its 12th consecutive year of participation in the City Giving Day with a charity fair themed "Advancing the International Use of RMB" in City of London, featuring Chinese cultural activities, traditional food, and interactive experiences. The fair combined a hands-on introduction to RMB, fundraising, and a unique taste of Chinese culture.

At the fair, BOC introduced renminbi-themed vouchers known as RMB Tokens, pairing charitable giving with a practical experience of using the currency. Goods at the market were priced in RMB, and visitors from the UK and overseas could exchange money for the tokens and use them to buy creative cultural products, sample traditional food, and join interactive activities. The initiative was designed to make the use of RMB more tangible and accessible, while raising its profile in the UK market.

London is a major international financial center and an important offshore RMB market. BOC has been operating in the UK for nearly a century and is one of the founding members of the London RMB Expert Advisory Group established by the City of London Corporation, and remains the only Chinese-funded bank in the group.

BOC London Branch is a direct participant in both the Cross-Border Interbank Payment System (CIPS) and the UK's Clearing House Automated Payment System (CHAPS). It is the only Chinese-funded clearing bank at the London Clearing House (LCH).

In 2026, the People's Bank of China authorized BOC to act as an RMB clearing bank in the UK. In July, LCH began accepting offshore RMB-denominated Chinese government bonds as eligible collateral, and BOC participated in the first transactions using them. BOC has long supported the development of London's offshore RMB market and its financial infrastructure, while expanding the range of RMB international use.

BOC will continue to fulfill its responsibilities as an RMB clearing bank in the UK and deepen cooperation with the City of London and institutions in both countries. It will further develop its services in clearing, settlement, trading, investment, and financing, supporting the wider international use of RMB and closer financial ties between China and the UK.

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