The business volume and transaction value of cross-border payments made in renminbi (RMB) maintained strong expansion levels in the second quarter of the year, a central bank report shows.

The Chinese central government's 3 billion yuan worth of renminbi-denominated bonds were listed in Chongwa (Macao) Financial Asset Exchange Co., Ltd. (MOX) in the Macao Special Administrative Region (SAR) on Friday.

Although the renminbi might continue to face downward pressures against the US dollar in the short term, the Chinese currency is capable of maintaining overall stability and may bounce back by the end of the year, currency market experts said on Tuesday.

Vice-governor of China's central bank said the country is capable of keeping renminbi generally stable and ruled out the possibility of one-way movements dominating the renminbi exchange rate.

The Securities and Futures Commission (SFC) welcomes the support of the Central Government and initiatives announced by the China Securities Regulatory Commission (CSRC) to broaden Stock Connect and further enhance Hong Kong's position as an offshore Renminbi (RMB) centre and a risk management centre.

The International Monetary Fund has raised the weighting of the renminbi in the basket of currencies that make up the Special Drawing Rights－an international reserve asset also known as the SDRs－by 1.36 percentage points to 12.28 percent.

The number of stores that support digital renminbi payments has reached 4.567 million.

10 percent for the renminbi

The arrangement aims to provide liquidity support for participating central banks during future periods of market volatility by creating a reserve pool

China's central bank has ramped up support for renminbi settlement in new forms and models of foreign trade

Cross-border renminbi settlements should also take a bigger share in business formats like cross-border e-commerce and procurement

Myanmar traders have hoped that the Chinese currency renminbi (RMB) accounts in four private banks would accelerate border trade.