Change is Afoot as Cross-Border Renmimbi Trade Flourishes

Chinese banks are expecting exponential growth in cross-border renminbi trade settlement as more companies in China and around the world choose to pay and be paid in the Chinese Renmimbi. In fact, Japanese company, Sony, announced on Tuesday that it had established a currency trading operation in Hong Kong in order to facilitate trade settlement in Renmimbi. Read more on this here.