Suzano SA, one of Brazil’s largest pulp producers, can sell its products to China for yuan. In an interview with Bloomberg about it declaration Walter Schalka, Managing Director of the organisation.
“The Chinese currency is becoming more and more important, and the company’s smaller customers in China are already demanding that their product contracts be pegged to the yuan,” Schalka said.
According to him, China is the world’s largest buyer of the company’s products. This country accounts for 43% of Suzano’s production.
Over time, he added, settlements in dollars will become less important. At the same time, there is no major transition to trade with the yuan.
April 9 Project Syndicate WroteHe said China has made significant progress in strengthening the yuan. Therefore, there is a possibility that in the future the yuan will overtake the dollar to become the world’s reserve currency.
Prior to that, the Business Times wrote that China’s third-largest national oil company, China National Offshore Oil Corporation (CNOOC), has sold a batch of liquefied natural gas (LNG) for the first time by paying one of the world’s largest oil companies in yuan. gas companies TotalEnergies (France).