Renminbi in motion for corporates

China accounts for roughly 15 per cent of global trade, yet the renminbi (RMB) represents less than 3.1 per cent of global payments and just 1.9 per cent of global reserves. That structural gap is narrowing.

Liquidity has deepened. Payment rails are operational. Onshore and offshore markets are increasingly connected. RMB usage is expanding across trade settlement, funding and capital markets – not as a policy theme, but as an economic reality.

For corporates with China-linked exposure, this shift is no longer theoretical. Supply chains, procurement flows and revenue streams are already embedded in Asia-centred trade networks. The question is whether treasury frameworks reflect that exposure.

What the RMB internationalisation report provides

This report sets out:

• The structural drivers behind RMB internationalisation and why the convergence is durable
• The maturity of liquidity and market infrastructure supporting scaled corporate deployment
• The tangible treasury benefits already being realised – across payments resilience, funding diversification and FX alignment
• Regional adoption pathways, from balance-sheet integration in Greater China to corridor-based usage in ASEAN, the Middle East, Africa, Europe and the Americas
• Practical case studies demonstrating how corporates are deploying RMB in working capital, capital markets and liquidity management

The focus is on where alignment improves funding flexibility and balance-sheet efficiency.

Why this matters now

As supply chains, energy flows and capital markets increasingly centre on Asia, a passive approach carries opportunity cost. RMB growth today is driven by real-economy demand – trade settlement, supply-chain financing, balance-sheet alignment and risk management – rather than short-term currency cycles. That foundation supports durability across market conditions.

Infrastructure is in place. Liquidity pools are expanding. Settlement efficiency continues to improve. As adoption scales, preparedness becomes a source of resilience and optionality within a more fragmented, multipolar financial system.