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.

By far, the PBOC has signed bilateral swap deals with 40 monetary authorities.

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

The US Federal Reserve on June 15 raised its benchmark interest rate by 75 basis points

China's external portfolio investment assets, excluding reserve assets, amounted to $979.7 billion by the end of 2021

China's foreign exchange reserves fell in April as prices of global financial assets declined significantly amid a strengthening US dollar

a cut in the amount of cash that banks must hold as reserves, which is expected to free up 530 billion yuan ($82.95 billion) in long-term liquidity

"...few will deny that the RMB is set to become a more important player on the world stage"

China's forex holdings amounted to $3.188 trillion at the end of March

The Federal Open Market Committee of the Federal Reserve (US Fed) announced a rate hike in the early morning today (Hong Kong time) following its two-day meeting, raising the target range for the federal funds rate by 25 basis points to 0.25-0.5%. In accordance with the established mechanism, the HKMA has raised the Base Rate for the Discount Window by 25 basis points to 0.75% with immediate effect.

The proportion of claims in Chinese yuan climbed to a new high in total foreign exchange reserves in the last quarter of 2021, latest IMF data showed. Experts have attributed the change to China's rising economic position and unswerving push for the yuan's internationalization.

Despite the global market turning jittery amid multiple uncertainties like the rising commodity prices, escalating geopolitical tensions and US Federal Reserve's more rounds of interest rate hikes, international investors still hold a positive outlook on renminbi assets and retain good exposure to the Chinese stock market.