Yuan poll finds 95% of overseas firms expect to sustain or boost use of currency

The global business appetite for China’s yuan is strengthening as Beijing’s long-term campaign to internationalise its currency gains traction, according to a new industry white paper.

More than 95 per cent of overseas companies expect to maintain or increase their cross-border yuan settlements over the coming year, according to the latest findings from Bank of China, one of the country’s leading state-owned lenders.

The report, released this week, showed that 34.5 per cent of surveyed overseas companies were expecting their cross-border yuan settlements to increase further, while 61.4 per cent anticipated no change. The findings were said to reflect a “steadying willingness” to use the yuan, with the proportion of overseas companies expecting a decline in usage plunging to 4.1 per cent from 21.6 per cent a year earlier.

The survey, conducted in January and February, polled 3,501 businesses, including 2,488 domestic firms and 1,013 overseas companies. Among the foreign participants, 582 were Chinese funded and 431 were non-Chinese funded. An additional 108 responses came from overseas commercial banks.

The findings come as Beijing steps up efforts to promote the yuan’s international use through bilateral currency-swap agreements, expanded cross-border payment infrastructure, and deeper offshore liquidity pools.

The survey also pointed to a growing willingness among overseas companies to hold yuan assets. The share of overseas companies planning to hold their yuan earnings as deposits for future trade payments with China rose to a five-year high of 32 per cent in 2025, up 6.4 percentage points from a year earlier. The report attributed this trend to “the relatively stable purchasing power” of the currency.