¥ Yuan

Standard Chartered said global companies are increasingly adopting the Chinese yuan in trade and treasury operations, according to a survey of nearly 300 corporates. The bank found that about 23% of corporate revenues and 25% of costs already have renminbi exposure, while only 14% of debt is denominated in the currency, highlighting a gap between operating exposure and financing strategies. The report suggests companies could achieve up to 2% annual savings by using RMB-based working capital financing as the currency becomes more integrated into global corporate treasury frameworks.
Beijing’s push to internationalise the yuan is reflected in its rising global use amid efforts to reduce reliance on the US dollar, which has shored up its forex dominance.

(scmp.com)
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