Corporates remain lukewarm on offshore RMB, despite reported growth

renminbi-pic

Despite the reported growth in offshore use of Chinese renminbi (RMB) – with Swift reporting this week that it is now ranked as the world's 11th most active payments currency, overtaking the Thai baht and Norwegian krone – many corporates appear to still be reluctant to switch to invoicing in RMB, due to the onerous system changes that are required.

Even the recent agreement to establish a swap line between the Bank of England and the People's Bank of China (PBoC) doesn't appear to have

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: