Search
 

Chinese Companies Switching to Reporting in Yuan

Weakening in Chinese currency encourages CFOs to abandon practice of reporting earnings in dollars.

By Kana Nishizawa, Bloomberg | Updated on September 08, 2016

Chinese companies in Hong Kong are abandoning a long-held practice of reporting earnings in dollars in favor of the yuan.

Want Want China Holdings Ltd. made the switch for the first time since its 2008 listing when reporting first-half earnings last month, while Hengan International Group Co. dropped the Hong Kong dollar figures it has used since at least 2001. China Resources Beer (Holdings) Co. said it moved to yuan-denominated reports to reduce the impact of currency moves.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.