HSBC: global acceptance of redback is rising

Figures come from the bank's 2016 renminbi internationalisation survey, conducted with 1,600 corporates across 14 countries

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Bright outlook: renminbi adoption accelerating, with usage rates up year-on-year in China and around the world

Corporates are introducing the Chinese renminbi into their treasury functions and integrating it across various business applications at an unprecedented pace, according to a HSBC survey of 1,600 corporates across 14 countries.

One of the main drivers of this trend is the increasingly straightforward and familiar regulatory structure, while the emergence of more renminbi-clearing banks around the world has made it possible to integrate the currency into daily operations, the survey found.

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