Major lenders prepare for yuan internationalization

The inclusion of the yuan in the Special Drawing Rights basket of the International Monetary Fund will bring great business opportunities to commercial banks with an integrated platform serving clients onshore and offshore.

The holders and users of SDR will be inevitably exposed to the yuan as a result of its inclusion in the currency basket, said Chen Bing, head of BNP Paribas renminbi competence.

"Our renminbi business has been evolving through different stages of renminbi internationalization. SDR inclusion adds another dimension - an immediate business impact is the increasing demand for risk management," he said.