Should exporters invoice Chinese firms in Renminbi? A survey of firms doing business with Chinese firms has found both sides waiting for the other to raise the question of invoicing in Renminbi, a conference in Auckland heard. In one survey 70% of Australian corporates were waiting for Chinese firms to request and 76% of Chinese corporates are waiting for Australians to accept. The survey, which straddled Sydney being designated as a Renminbi transaction hub, found many Chinese small firms were often unaware they could invoice in the Chinese currency. Trading companies have a long history in China and traditionally act as a broker between foreign and Chinese companies trading with each other.

Source: Stuff December 05, 2017 00:33 UTC