Usage of the Chinese renminbi (RMB) has nearly doubled in the past year.
The study polled 1,304 financial decision-makers at:
- companies that do business in mainland China and
- companies in China that do business abroad.
French and German companies were much more likely to use RMB (26 percent and 23 percent, respectively), according to the study.
“We’re seeing a lot more interest in the RMB; people are understanding more about how the RMB trades and the liquidity,” said Martin Brown, executive vice president and head of large corporate banking at HSBC, speaking to Treasury & Risk.