The Standard Chartered Renminbi Globalisation Index, the RGI, posted another new high of 748 in December, up 2.8% from November's 728 in part due to a significant rebound in CNH deposits in Hong Kong.

For 2012, the RGI rose 50% despite waning global demand, fragile market sentiment, and the absence of Renminbi appreciation expectations. The index is expected to rise at least another 50% in 2013, on prospects of recovering confidence in China's economy, CNY appreciation and growing invoicing in Renminbi.

The ratio of the relative sizes of the Hong Kong, Singapore and London offshore Renminbi markets is now 81:11:8.

Standard Chartered Taiwan Domestic Banking Unit Completes RMB Transactions
Standard Chartered Bank Taiwan Ltd ("Standard Chartered Taiwan") announced that it has successfully completed nearly RMB6 million worth of RMB-denominated transactions for several corporates -- including Makalot Industrial Co., LTD, Eastech Electronics (Taiwan) Inc., SEF TECH Co., Ltd., OHL Taiwan Limited )-- a day after domestic banks became  eligible to offer RMB-related services.