Yuan or renminbi, the currency of China, is continually rising in the world as reported by ratings agency Fitch.

The yuan continues to rise in the realms of international payment settlements, as well as trade and currency investment.

As the value of the yuan grows worldwide, interest in the currency also grows globally.

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Fitch also reports that there are expanding networks of yuan clearing centers that have facilitated direct access to China's onshore financial markets.

Fitch is expecting a boom in offshore clearing centers of the like that will help to drive greater issuance of dim sum bonds by both Chinese and non-Chinese governments. They also look forward to financial institutions and corporations to do the same in 2015.

Dim sum bonds take their name from the Cantonese cuisine that has to do with many small delicacies. The term is used to describe yuan-denominated bonds issued outside the Chinese mainland.

Eight new offshore yuan clearing center opened in major financial centers in 2014. These include locations in: Toronto, Sydney, Seoul, Paris, Luxembourg, London, Frankfurt, and Doha.

In the new year, two more opened in Bangkok and Kuala Lampur.

The function of these new banks is to convert whatever local currency there is, and make them into yuan. The difference with this process is that the US Dollar is not used as a stepping stone, effectively saving time and money.

Payment services company SWIFT stated that more than 50 countries and regions are utilising yuan for more than 10 percent of their payments with China's mainland and Hong Kong.

All the recent action with yuan and dim sum bonds shows the potential of the currency and bonds in the coming years.

In 2009, the size of dim sum bonds was only valued at US $5 billion. At the end of 2014 though, it has grown to as much as $70 billion, but it is still small compared to the dollar. 

Tagsyuan, China currency, Fitch, Dim Sum Bonds