The IMF has endorsed the renminbi as a freely usable currency, recognising China’s increased importance in the global financial market. The renminbi’s journey to attaining this status was never straightforward.
CT's Working Capital Chronicle has been updated. New deals include: Singapore Airline's new FX payments facility; Toyota's new derivatives reporting platform; and LyondellBasell Industries' cash management solution.
ICBC’s Singapore branch can now provide renminbi cross-border settlements. What factors will help Singapore to rival Hong Kong as a renminbi hub and what will it mean for the CNH? CT asks the experts