China reportedly wants to do more deals in its own currency. Australia’s banks aren’t ready
- Written by Wei Li, Lecturer, Business School, University of Sydney
In October, media reports suggested mining giant BHP had accepted a deal to settle about a third of its spot iron ore sales to Chinese customers in China’s own currency, the renminbi (RMB), rather than US dollars.
Those reports still haven’t been officially confirmed, amid ongoing closed-door negotiations between the mining company and...
