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Companies that do business in China, or compete for a share of the Chinese market’s growth, should seriously consider making the renminbi (RMB) an integral part of their cash management strategy. Use of RMB to settle transactions can not only improve a company’s leverage on prices with customers and suppliers, but can also reduce financial risks the company faces, improve the effectiveness of corporate investments, and deepen business relationships.

If these sound like bold claims, consider how far China has opened itself to the world in a short time. The nation’s rapid trade growth has been pulled forward by the twin locomotives of extraordinary domestic growth in China and increasingly transnational industrial assembly lines. Although the nation’s GDP growth forecast this year is the lowest in 11 years, China continues to grow much faster than many other economies.

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