A Bank of China poll indicates growing global confidence in the yuan, with over 95% of overseas companies expecting to maintain or increase their use of the currency for cross-border settlements. This reflects Beijing's efforts to internationalize its currency.

The global business appetite for China’s yuan is strengthening as Beijing’s long-term campaign to internationalise its currency gains traction, according to a new industry white paper. More than 95 per cent of overseas companies expect to maintain or increase their cross-border yuan settlements over the coming year, according to the latest findings from Bank of China, one of the country’s leading state-owned lenders. The report, released this week, showed that 34.5 per cent of surveyed overseas....