Zhang Hui, President of the Bank of China: Commercial banks should seize the opportunity to improve the offshore RMB financial product system.

At the "Financial Assistance for Global Economic and Trade Development" sub-forum of the 8th Hongqiao International Economic Forum held on the afternoon of November 5th, Zhang Hui, President of the Bank of China, said that with the restructuring of the international trade landscape, China's economic and trade relations with more and more countries continue to deepen, and promoting the international use of the renminbi is timely. Commercial banks should seize the opportunities of interconnected financial infrastructure, improve the offshore renminbi financial product system, effectively meet the trade investment and risk hedging needs of overseas entities holding renminbi. As an important promoter of the international use of the renminbi, the Bank of China will continue to consolidate its global leading advantages in cross-border renminbi traditional settlement and clearing business, actively expand the pricing and settlement of renminbi in areas such as energy, commodities, and cross-border e-commerce, deeply participate in the promotion of cross-border payment systems, and strongly support trade and investment liberalization and facilitation.