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Survey: More willing to settle with yuan

05-30-2011 13:43 BJT

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An HSBC survey has found nearly 80 percent of companies are willing to use renminbi for settlement. But the survey shows the main obstacle is the acceptability among trading partners outside China.

Overseas partners have difficulties in obtaining the currency to pay, or lack channels to use the currency they received as payment. But an analyst from HSBC says overseas markets will see a steady and continued rise in renminbi holdings, and strengthened local support for renminbi settlement over time. That's likely to be due to greater use, and investment channels for offshore renminbi.

The survey covered 13-hundred companies in 18 Chinese cities, that are allowed cross-boarder yuan settlement business.

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Editor:Xiong Qu |Source: CNTV.CN

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