Yuan Offshore Trade Race Picks Up With Frankfurt Bid

Yuan Offshore Trade Race Picks Up With Frankfurt Bid

Qilai Shen/Bloomberg

By 2015, a third of the Asian country’s cross-border business will be settled in yuan, making the currency the third most-traded after the U.S. dollar and euro, according to HSBC Holdings Plc, Britain’s biggest lender, which has its origins in 19th-century Hong Kong and China.