Valspar has added renminbi to its global cash pool currencies through a dividend payment to its US headquarters and has future plans for the Shanghai free trade zone (FTZ).
Dutch hydraulic-cylinder maker Hyva transacted its first renminbi inter-company loan from China to its headquarters, completing its application in just two-and-a-half weeks.
China will likely free up deposit rates within two years, hopefully helping end the need for corporates to park cash with dodgy wealth management products, economists believe.
Bunge International Trading, the Chinese arm of a US-headquartered agribusiness company, has completed an RMB cross-border intercompany loan from the Shanghai FTZ.