Cross-border yuan settlement rising: BOC report

Cross-border yuan settlement rising: BOC report

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ATAHK reads from China Daily that cross-border yuan settlement has been rising as enterprises are positive about yuan internationalization, said a report from the Bank of China (BOC) on Tuesday. For details, please refer to the following news from China Daily on November 5th:

The report surveyed 3,162 companies across 22 countries and regions.

It showed that about 26 percent of enterprises used yuan in more than 15 percent of their transactions. The first figure is 10 percentage points up from that in the previous survey made last year.

So far this year, about 41 percent of overseas enterprises have settled using yuan with business partners from outside the Chinese mainland, especially with business partners from Japan, the Republic of Korea, Europe and America. The figure was only 10 percent in 2013.

Both domestic and overseas enterprises are positive on prospects for the yuan and the trend for the currency's internationalization will not change, said Yue Yi, vice-governor of the BOC.

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