Tapping growing renminbi worldwide

European corporates should consider issuing renminbi bonds to build a name in China, despite plentiful euro and dollar financing elsewhere

European companies that ignore the renminbi are at risk of losing out especially given the rapid pace of the currency’s growth in the world.

The spotlight in March was on new offshore renminbi hubs. Just before the trip to Europe by president Xi Jingping, China signed agreements with Germany and the UK for clearing and settlement of the Chinese currency. In February 2014, the renminbi stood in eighth position as the most used currency in global trade payments, up from 13th place last January, according to Swift’s monthly RMB Tracker published on March 26.

“As this trading relationship continues to strengthen, the ancillary financing requirements will broaden...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222