Offshore RMB business refers to RMB deposit business outside China. The business where both parties are non-residents is called offshore financial business.

Renminbi issued in China must be controlled by China's financial policies, laws and regulations, and it is onshore renminbi.

The onshore RMB (CNY) market has a long development time and a large scale, but its supervision is stricter. The central bank is an important participant in the foreign exchange market, which means that the onshore RMB exchange rate is greatly influenced by the central bank's policies.

The offshore RMB (CNH) market has a short development time and a small scale, but it is less restricted. It is more influenced by international factors, especially the overseas economic and financial situation, which fully reflects the relationship between supply and demand of RMB in the market.