HKMA Designates 12 Primary Liquidity Providers and Raises Total RMB Repo Amount to $22 Billion

The HKMA announced the designation of 12 banks as primary liquidity providers for Hong Kong's offshore renminbi market for a two-year term, effective from 27 October 2026. Following the effective date of the designation, the total amount of the renminbi repo agreement arrangements for primary liquidity providers will increase from RMB20 billion to RMB22 billion. The HKMA said the expanded arrangement will enhance support for offshore renminbi liquidity and help consolidate and enhance Hong Kong's position as an offshore renminbi business hub.