Malaysian companies urged to accept Renminbi

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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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...

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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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