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Press release

The Offshore Renminbi Review: Expansion in the use of offshore RMB in China

28 Oct 2014
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2 mins
Home > Press Releases > The Offshore Renminbi Review: Expansion in the use of offshore RMB in China

In the latest survey sample from the seventh round of the Offshore Renminbi Review, approximately nine out of ten respondents (86%) use one or more offshore RMB products, up from 74% in Round 5.

While Hong Kong corporates continue to demonstrate the strongest acceptance of offshore RMB products, with near universal usage (97% up from 89% in Round 5), more respondents in China are active in line with their stated intentions six months ago (82% compared to 71% in Q4 of 2013.)

There was also greater acceptance among China companies in Hong Kong with 80% active in one or more products, compared to only 57% in Round 5.

MNCs use of offshore RMB holds steady compared to Round 5, with 75% of MNC respondents active users in both rounds. However, their future intentions are more positive and 17% plan to use offshore RMB products in the next six months, compared to none in Q4 2013.

A larger proportion of respondents, especially those in China and Hong Kong report benefits of using offshore RMB now compared to Round 5. China companies are particularly enthusiastic.

The Offshore Renminbi Review

The Offshore Renminbi Review is part of our Renminbi Research series, and is a quarterly survey of corporate opinion, conducted by Asset Benchmark Research.

Read the full report of this seventh review in English or Simplified Chinese.

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