Bank of China Survey: 95% of Overseas Firms Plan to Maintain or Raise Yuan Use

A Bank of China survey found that 95% of overseas businesses expect to sustain or increase yuan use for cross-border settlements, with 34.5% anticipating growth and 61.4% expecting no change. The February poll covered 3,501 firms, and just 4.1% said their yuan settlement activity would decline. Willingness to hold yuan deposits rose to over 30%, a five-year high and 6.4% higher than last year.