New digital financial infrastructure, new regional free trade agreements, and decisive leadership in the emerging sustainability and green agenda bode well for international RMB adoption.

Chinese and Japanese banks again dominate the list of The Asian Banker 500 largest banks. Balance sheet growth accelerated in the first half of 2020 and some players are reinforcing their scale and competitiveness through mergers and acquisitions

The use of RMB in international transactions will increase despite US-China trade frictions and on-going COVID-19 pandemic according to the latest annual survey on RMB internationalisation conducted jointly by China Construction Bank and Asian Banker Research.

Chinese credit card industry exploded over the past two years, with growth rates being recorded in the number of credit cards issued and outstanding credit card debt, as well as the income from credit card business.

Electronic channels and bank agnostic platforms are transforming traditional trade finance functions across Asia Pacific

Despite economic headwinds, banks leveraged advanced technologies and a customer-centric approaches to drive balanced growth, with customer engagement, financial inclusion, and ecosystem development emerging as key strategies

In 2023, China’s domestic systemically important banks grew to 20, led by China Merchants Bank in the TAB Global 1000 World’s Strongest Banks 2023 ranking, but some still require more capital despite improved capital ratios

The majority of institutions surveyed attribute their increased Renminbi usage to China’s investments and partnerships facilitated by the Belt and Road Initiative

The global use of Renminbi is influenced by geopolitics, macroeconomic conditions, infrastructure, and technology

Surveyed institutions continue to adopt RMB in cross-border trade, driven by cost benefits and foreign exchange risk management

JPMorgan Chase, China Construction Bank, and Emirates NBD claimed leading spots in this year’s ranking, with JPMorgan Chase standing out in retail financial performance and digital customer base

Despite recent market volatility and real estate downturns that resulted in a wealth decline in 2023, China’s wealth management industry is poised for continuous growth in 2024 and projected to exceed $100 trillion by 2025