It should be noted that the call for the internationalization of the yuan has risen as Chinese firms become more active in overseas markets, which is evidenced by the growing volume of yuan-denominated bank loans, bonds and other financing instruments. With the deepening cooperation between Chinese and ASEAN companies and the widened application scenarios, the renminbi is no longer just a transactional tool but increasingly viewed as a hedging instrument thanks to its stability, said Zheng.

　　shijing@chinadaily.com.cn