News

Chinese yuan not to be legalized in Cambodia, NBC confirms

19 July 2023
Kiripost
Banking and financial services / Economy and commerce
Cambodia-China relations / Cambodian Riel / Chinese yuan / cross border payment / National Bank of Cambodia

The agreement between the National Bank of Cambodia (NBC) and UnionPay International is not to legalize the Chinese currency in the nation but rather to raise the prestige of the Khmer riel through cross-border QR payments, NBC’s deputy governor-general confirmed after concerns were raised over ...

 Mao Sreypich
https://kiripost.com/stories/nbc-chea-serey-chinese-yuan-not-to-be-legalized-in-cambodia

Yuan use gains traction as trade link with China grows

25 October 2017
The Phnom Penh Post
Banking and financial services / National Bank of Cambodia
Bank of China / Chinese yuan / Industrial and Commercial Bank of China

With trade and investment between Cambodia and China steadily increasing, Chinese currency-backed settlements for cross-border commerce have sharply taken off as the Kingdom continues to deepen its economic dependency on the northern giant, a central bank official said yesterday. ...

 Hor Kimsay
http://www.phnompenhpost.com/business/yuan-use-gains-traction-trade-link-china-grows

China's ICBC approved by Cambodia central bank as yuan clearing bank

Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, said on Tuesday it has been approved by National Bank of Cambodia as a clearing bank for the Chinese yuan currency in the country. ...

 The Business Times News Staff
http://www.businesstimes.com.sg/breaking-news/asia/chinas-icbc-approved-cambodia-central-bank-yuan-clearing-bank-20140325

China is promoting the yuan for settling trade deals with the Kingdom

27 September 2012
Economics Today
Economy and commerce / Trade
Bank of China / business transactions / Cambodian Riel / Chinese aid / Chinese currency / Chinese yuan / commercial development / Currency / currency exchange / exchange rates / international trade / international trade deals / National Bank of Cambodia / NBC / reserve currency

Due to the expansion of economic and business activities between Cambodia and China, since early August the Bank of China has been negotiation with National Bank of Cambodia (NBC) on the promotion of business transactions in Chinese yuan. It is part of a larger but quiet ...

Push for trade in yuan increasing

25 July 2012
The Phnom Penh Post
Banking and financial services / Economy and commerce / Imports / Labor / Pharmaceuticals / Public health / Social development / Trade
agro-chemical products / Cambodian businesses / Cambodian company / Chinese aid / Chinese yuan / cross-border business / dollar / Dynamic Scientific Co Ltd / import / laboratory equipment / pharmaceuticals / Tom Kimson / Yuan

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 ...

http://www.phnompenhpost.com/index.php/2012072557593/Business/push-for-trade-in-yuan-increasing.html

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