Push for trade in yuan increasing
Slowly but steadily, demand to do cross-border business in Chinese yuan is pushing its way into one of Asia’s dollar-dominated strongholds. As China continues to liberalise the yuan – or at least hint at when some capital controls could be lifted – Cambodian businesses that import from China have seen increased interest from their Chinese counterparts to settle in the yuan. “Suppliers in China are asking to settle in yuan, but they’re not insisting yet,” said Tom Kimson, chief executive at Dynamic Scientific Co Ltd, a Cambodian company that supplies pharmaceuticals and laboratory equipment. The company gets its agro-chemical products from China. “In reality, you can’t get away from this when doing business in the region.”…
http://www.phnompenhpost.com/index.php/2012072557593/Business/push-for-trade-in-yuan-increasing.html
