In short, it is the domestic market and the foreign market.

onshore RMB and offshore RMB can be directly understood as "inside China" and "outside China". The biggest difference between them is whether they are located in Chinese mainland or not in Chinese mainland.

onshore RMB is the RMB traded in Chinese mainland.

offshore renminbi renminbi traded outside Chinese mainland.

Extended information:

Onshore RMB:

1. Scope: only used in Chinese mainland;

2. Features: fixed exchange rate, with reference to USD;

3. Influential factors: regulated by the government, with great restrictions;

4. reaction speed: slow reaction and small fluctuation;

5. Government agencies: central bank, domestic banks, state-owned enterprises and finance companies

6. Main market: Chinese mainland

offshore RMB:

1. Scope: use outside Chinese mainland;

2. Features: floating exchange rate, which is determined by the market;

3. Influencing factors: affected by the overseas economic and financial situation, the restrictions are small, reflecting the market demand for RMB;

4. reaction speed: fast reaction and large fluctuation;

5. Government agencies: import and export enterprises and offshore financial institutions;

6. Main markets: Hong Kong, Singapore and London

Baidu Encyclopedia-offshore market

Baidu Encyclopedia-onshore market.