Malaysian companies urged to accept Renminbi

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In an effort to secure better trading terms and investment rates with Chinese suppliers and purchases, the Malaysian, HSBC Bank Malaysia Bhd’s Director Trade and Supply Chain Ng Wei Wei says that Malaysian business should consider the viability of doing business in the Chinese Renminbi currency.  It is estimated that by 2015, half of business dealings with China will be done with the renminbi as it becomes more common on the international stage.

Ng suggests that businesses who shy away from the Renminbi could be missing lucrative opportunities, as a recent survey by the HSBC Trade Confidence Index shows that Asian traders feel that the renminbi will be the second most important trade settlement currency within the next six months.  China and Malaysia continue to have strong economic ties to each other, so the success of the Renminbi internationally should benefit Malaysia as well.

 

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Reading Time: 1 minute

In an effort to secure better trading terms and investment rates with Chinese suppliers and purchases, the Malaysian, HSBC Bank Malaysia Bhd’s Director Trade and Supply Chain Ng Wei Wei says that Malaysian business should consider the viability of doing business in the Chinese Renminbi currency.  It is estimated that by 2015, half of business dealings with China will be done with the renminbi as it becomes more common on the international stage.

Reading Time: 1 minute

In an effort to secure better trading terms and investment rates with Chinese suppliers and purchases, the Malaysian, HSBC Bank Malaysia Bhd’s Director Trade and Supply Chain Ng Wei Wei says that Malaysian business should consider the viability of doing business in the Chinese Renminbi currency.  It is estimated that by 2015, half of business dealings with China will be done with the renminbi as it becomes more common on the international stage.

Ng suggests that businesses who shy away from the Renminbi could be missing lucrative opportunities, as a recent survey by the HSBC Trade Confidence Index shows that Asian traders feel that the renminbi will be the second most important trade settlement currency within the next six months.  China and Malaysia continue to have strong economic ties to each other, so the success of the Renminbi internationally should benefit Malaysia as well.

 

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