Overseas Firms to Maintain or Boost Yuan Usage
- 95% of foreign firms plan to sustain or increase their use of the Chinese yuan in cross-border settlements.
- 34.5% of surveyed businesses expect an increase in yuan-based settlements, while only 4.1% foresee a decline.
- The willingness to hold yuan deposits has reached a five-year high, with over a third of businesses indicating this preference.
- The survey included responses from over 3,500 businesses, both domestic and international.
The Chinese government’s push for internationalizing the yuan appears successful as most overseas firms plan to maintain or boost its use in transactions, aligning with President Xi Jinping’s goals for the currency’s global status.
Confidence in the yuan is growing, with only a small percentage of firms expecting reduced usage, reflecting the currency’s stable purchasing power and strategic importance in global trade. Source
