News
Chinese carriers welcome the new possibility to settle in Renminbi
November 28th 2025
The International Air Transport Association (IATA) will add the Renminbi (CNY) as one of the settlement currencies available to airlines and other suppliers through the IATA Clearing House (ICH). Read More » The ICH is already offered in seven currencies, including US Dollars, Euros, British Pounds, Swiss Francs, Singapore Dollars, Australian Dollars, and Japanese Yen. Settlements in the Renminbi currency will be available starting December 2025, following the completion of a trial period that will be undertaken by China Southern Airlines (CSA) and Xiamen Airlines in November 2025. “We welcome IATA’s decision to add the Renminbi as a settlement currency. It is a positive development for the air transport industry in China. Avoiding costly and multiple currency conversions will speed up settlement and reduce currency exchange risk,” Sun Yuquan, Chief Financial Officer of Air China, told Airlines magazine. Air China, which currently chairs the China Airlines Committee, has been a strong supporter of adding the Renminbi. Settling in this currency offers significant benefits for airlines operating in China by reducing currency exchange risks, easing the onboarding of local suppliers, and cutting overall costs.
