Investment Immigration Singapore focuses on Singapore's economic news: The Singapore Exchange officially launched Renminbi futures trading on the 20th, which includes US Dollar/offshore Renminbi futures and Renminbi against US Dollar futures contracts, with sizes of $100,000 and 500,000 Renminbi, respectively.
Guo Ningning, President of Bank of China Singapore Branch, stated that the launch of Renminbi futures by the Exchange further enriches the global offshore Renminbi business variety, allowing global Renminbi holders to better manage risks and further activate the use of Renminbi internationally, enhancing Singapore's competitiveness as an offshore Renminbi center and foreign exchange trading center. As the largest comprehensive Renminbi service provider in Singapore, Bank of China will further support the development of offshore Renminbi business and collaborate with partners such as the Exchange to develop and launch more Renminbi business varieties.
Bank of China and the Exchange jointly announced the launch of Renminbi futures on the 19th of last month, with Bank of China Singapore Branch becoming the first market maker for Renminbi futures on the Exchange.
