“Globally, the use of RMB has been increasing since 2009, when China launched a pilot programme to internationalise its currency by allowing the RMB to be used to settle cross-border trade. Since then, China’s trading partners have increasingly been able to use the RMB when paying for imports or receiving payments for exports. In 2012, 12 percent of China’s total trade was paid for in RMB, up from three percent in 2010. By 2015, HSBC expects that around 30 percent of China’s total trade — equivalent to around $2 trillion — will be settled in RMB. There are more than 30 markets worldwide conducting over 10 percent of their business with China in RMB.”
http://thepeninsulaqatar.com/business/241931-rmb-likely-to-replace-dollar-in-global-trade.html
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