According to published reports citing the Nikkei business daily, DIC Corporation, parent company of Sun Chemical and the world’s largest printing ink manufacturer, become Japan’s first company to use the Chinese yuan for trade settlement.
According to a March 24, 2010 MarketWatch report citing the Nikkei business daily, DIC switched from using U.S. dollars to yuan to transfer payments from its units in Shanghai and Shenzhen to the Japanese parent company. A DIC official added that the switch was done on a trial basis.
China has been strengthening attempts to turn the yuan into an international trading currency, and has loosened controls to allow transfers.
Large Format Review provides daily breaking news on digital printer technology as used for commercial production of print for wide-format sign and display, dye-sublimation textile and fabric printing, packaging and industrial applications. We also cover 3D print and additive manufacturing.