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30.08.2010
Yuan will compete with dollar
Yuan will compete with dollar

 

National Chinese currency, the yuan, may soon become a rival to the U.S. dollar. This week, the world's largest banks began to international advertising campaigns to execute transactions and trading with China is not using the dollar and the yuan.

Since the largest bank of Europe HSBC, having moved recently head office from London to Hong Kong, and with it, and the British Standard Chartered companies that will make trade payments yuan, offer a variety of financial relief and reductions in charges.

Such a policy of banks will not only simplify the system of calculation with the Republic of China, but to become banks HSBC and Standard Chartered leaders of this segment of the foreign exchange market.

The same trend for future advertising campaigns will and Spanish bank BBVA. Only his target audience will be exporting companies from Latin America.

Worth noting that the volume of calculations, which take place in the Chinese currency, has grown significantly. Facilitated this introduction Peking additional measures that weaken the control over the market rate. Now companies can use the yuan to trade with all countries of the world. Ministry of Commerce of China expects that by 2020 the foreign trade turnover of the republic will rise to 5.3 trillion dollars.

 

On materials www.nashol.com

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