Yuan set to play bigger role in global reserves, says HSBC

Global reserve managers expect 8.5 percent of foreign reserves to be invested in renminbi by 2020, according to a recent survey sponsored by HSBC, an international banking and financial services institution.

The number went up from a previous forecast of 6.9 percent by 2020 made in 2015.

Renminbi is seen as more attractive than a year ago by 74 percent of reserve managers in the HSBC survey, the highest among major currencies, followed by the US dollar and the euro.