Group 1 - The Standard Chartered Renminbi Global Index (RGI) has shown a recovery from a low of 4625 in August to 4768 in October, driven by improved market sentiment following a new US-China trade agreement [1] - Offshore Renminbi deposits increased in September and October, contributing 1.04 and 0.47 percentage points to the RGI rise, respectively, indicating a rebound after four months of decline [1] - The issuance of offshore Renminbi bonds and certificates of deposit (CDs) grew by 5.3% from May to July and by 11.7% compared to the same period in 2024, positively impacting the RGI [1] Group 2 - The cross-border Renminbi payment index showed a slowdown in October after recovering in August and September, with the SWIFT Renminbi payment share dropping to a near 30-month low of 2.47% [2] - Despite the decline in cross-border payments, the Renminbi settlement share in China's goods trade remained stable, increasing from 28.4% in Q2 to 30.4% in Q3 [2] - Standard Chartered anticipates that structural and macroeconomic policies will support the internationalization of the Renminbi, aiming to expand its use in international trade, investment, and financing [2]