China-Korea Financial Forum Explores New Opportunities for Expanding International Use of RMB

A roadshow event titled "Expanding Global Use of RMB and New Opportunities for China-Korea Financial Cooperation," hosted by Bank of China, was held in Seoul, South Korea on July 6, with nearly 120 guests from government, business, and financial sectors of both countries in attendance. Participants agreed that the level of RMB international use has continued to rise in recent years, with expanding applications in trade settlement, cross-border investment and financing, and international reserves. The ongoing high-level opening-up of China's financial markets is creating new development opportunities for China-Korea financial cooperation.

Kim Young-ryong, head of Asia-Pacific bond investment at the Bank of Korea, shared the central bank's experience in RMB asset investment, noting that as China's bond market continues to open up and RMB international use expands, the attractiveness of RMB-denominated assets in global asset allocation has further increased, offering more long-term investment opportunities for overseas institutions.

Dai Bing, Chinese Ambassador to South Korea, said in his remarks that this year marks the beginning of China's 15th Five-Year Plan, with the Chinese economy maintaining a positive trajectory and injecting much-needed certainty and new momentum into the world economy. The RMB has evolved from being "usable" to "user-friendly," and from a "trade currency" to a "reserve currency," playing an increasingly important role in global economic development.

Zhang Hongbao, Deputy General Manager of the Financial Institutions Department at Bank of China Head Office, stated that amid profound changes in the global economic and financial landscape, international investors are placing greater emphasis on portfolio diversification and risk management. China's advancement of high-level financial opening-up and the growing appeal of RMB assets are bringing new development opportunities for China-Korea financial cooperation.

During the event, Bank of China released the "Bank of China RMB International Use White Paper (2026)," presenting the latest achievements in RMB international use. Representatives from South Korean financial institutions shared insights on RMB applications in cross-border trade, investment and financing, and capital market operations based on their RMB asset investment practices. Both sides engaged in discussions on topics including the latest developments in RMB international use, China's economic and financial outlook, and new opportunities for China-Korea financial cooperation.