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China CFOs Are Swapping Dollars for the Yuan in Statements

  • Want Want, Hengan shift currencies for first time in years
  • Yuan weakness trims earnings when translated into dollars
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Chinese Companies Swap U.S. Dollars for Yuan

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Chinese companies in Hong Kong are abandoning a long-held practice of reporting earnings in dollars in favor of the yuan.

Want Want China Holdings Ltd. made the switch for the first time since its 2008 listing when reporting first-half earnings last month, while Hengan International Group Co. dropped the Hong Kong dollar figures it has used since at least 2001. China Resources Beer (Holdings) Co. said it moved to yuan-denominated reports to reduce the impact of currency moves.