Yuan Set to Become a Popular Currency Among Traders

If the yuan continues to gradually strengthen by the next 18 months, it can be a more popular currency among traders,
reports the The Standard, citing trade experts at HSBC.

 

HSBC predicts that in the next six months, 40% of importers and exporters in Greater China will settle transactions in yuan, while 56% of Hong Kong traders will trade in yuan.

 

"When overseas companies have yuan- denominated bank accounts in Hong Kong or any big city in China, settling transactions in yuan is easy," Chris Lewis, head of trade and supply chain for Greater China, told the newspaper.

 

 

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