Macau: New RMB clearing hub

On March 7 2016, as China’s 2016 plenary sessions of the National People’s Congress and the National Committee of the Chinese People’s Political Consultative Conference were underway, the Monetary Authority of Macau (Autoridade Monetária e Cambial de Macau, or AMCM) communicated in a press release that, after 15 months of preparation, the Macau Renminbi Real Time Gross Settlements (RMB RTGS) System has officially been put into action