U.S. Companies Step Up Business Conducted in Yuan - WSJ

U.S. Companies Step Up Business Conducted in Yuan - WSJ $$ The yuan is making inroads with U.S. firms now because it is becoming more cost-efficient to pay in the currency. American importers can often negotiate better prices with Chinese suppliers if they agree to use yuan to make a purchase. Chinese companies tend to increase prices when they settle trades in dollars as a way to offset potential exchange-rate fluctuations. Transactions in yuan still represent a tiny portion of the more than $500 billion in annual trade between the U.S. and China. But companies and banks in both countries say the currency, also known as the renminbi, is starting to gain a foothold in America for the first time since China began loosening restrictions on trading the yuan outside China in 2009.http://online.wsj.com/articles/u-s-companies-step-up-business-conducted-in-yuan-1404947781?mod=WSJ_myyahoo_module&utm_source=The+Sinocism+China+Newsletter&utm_campaign=9f1ad82bd5-Sinocism07_10_14&utm_medium=email&utm_term=0_171f237867-9f1ad82bd5-29615013&mc_cid=9f1ad82bd5&mc_eid=5935182a65