Habib Bank Ltd (HBL) has announced its plans to start renminbi (RMB) operations in China after holding in-depth discussions People’s Bank of China. On 10 October, the representatives of the two banks held discussions to promote RMB’s internationalisation and relocation of export-based industries from China to Pakistan. The major discussion was around increasing the use of RMB in trade between Pakistan and China. HBL is the only Pakistani bank to have operations in China, and will soon start RMB operations in China, becoming the only Pakistani bank to offer end-to-end RMB intermediation.