China’s growth and the RMB

China’s growth

As China’s economic growth continues, this brings challenges but also opportunities.

Explore how HSBC’s network of China specialises could help your business make the most of China’s potential.

Renminbi Internationalisation survey

When HSBC conducted its first Renminbi (RMB) Internationalisation Study in 2012, the prospect of China’s renminbi rubbing shoulders with the US dollar or Euro was attainable but we recognised that the path to the currency’s maturity was not entirely clear.

Today we see signs that the image has come into focus, thanks to China’s remarkable economic reform and RMB internationalisation efforts over the last four years. In that time the RMB has ascended to the world’s fifth most widely used payment currency*.

This qualifies that, more than ever, corporates are introducing the RMB into their treasury and integrating it across various business applications each year.

*Source: SWIFT

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