HSBC: global acceptance of redback is rising
Figures come from the bank's 2016 renminbi internationalisation survey, conducted with 1,600 corporates across 14 countries
Corporates are introducing the Chinese renminbi into their treasury functions and integrating it across various business applications at an unprecedented pace, according to a HSBC survey of 1,600 corporates across 14 countries.
One of the main drivers of this trend is the increasingly straightforward and familiar regulatory structure, while the emergence of more renminbi-clearing banks around the world has made it possible to integrate the currency into daily operations, the survey found.
"This
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