According to a report on RMB internationalization published by Standard Chartered, global corporations are widely adopting the Chinese yuan in trade and supply chain operations. The development of trade activities, supply chain systems, and capital markets in Asia has created favorable conditions for broader use of the yuan by international businesses. However, further growth is still needed in financing and treasury management. The report surveyed nearly 300 large enterprises across 19 industries worldwide. Among the respondents, 23% of revenue and 25% of costs involved RMB exposure, yet only 14% of debt was denominated in yuan, reflecting a gap between operational exposure and financing strategy in RMB usage. Among companies with RMB-related business, 24% indicated they plan to increase the use of yuan for both onshore and offshore financing over the next three years. Citing data from the London Stock Exchange, the report noted that companies could save up to 2% annually by switching to RMB for working capital financing. It was also highlighted that the Cross-Border Interbank Payment System (CIPS) for RMB currently connects more than 1,500 financial institutions across 124 countries and regions, with transaction volume growing approximately 43% year-on-year.
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