Since its inception in 2004, the personal RMB business of Macao has been on the rise in an orderly and steady manner. Since December 2009, the scope of personal RMB business of Macao has been further widened. Simultaneously, the cross-border RMB trade settlement scheme was inaugurated. Lately, the People’s Bank of China has opened RMB fund settling channel between Macao and Hong Kong. It provides cross-border settlement of funds for Macao residents and institutions involved in respect of the transactions for RMB bonds issued in Hong Kong, which is conducive to the development of RMB business in Macao. With immediate effect, Macao residents and institutions involved can purchase or sell, through Macao RMB participating banks, the RMB bonds issued in Hong Kong.