The Chinese currency yuan, or renminbi, continues its ascent among international payment settlements, trade and currency investment, ratings agency Fitch said in their latest report.
A rapidly expanding network of offshore yuan clearing centers has facilitated direct access to China's onshore financial markets, Fitch said.
"We expect the proliferation of these offshore clearing centers to drive greater issuance of dim sum bonds by both Chinese and non-Chinese governments, financial institutions and corporates in 2015," it said.