The Standard Chartered Bank recently said that at least 40 central banks have invested in the yuan while many others are preparing to do so. This has put China's currency on the path to reserve status even before full convertibility. Twenty-three countries have publicly declared their holdings in yuan, in either onshore or offshore markets.

According to Hong Kong's South China Morning Post, on the basis of public records from either central banks' own statements or central bankers' interviews with the press, 23 central banks have yuan holdings. 11 of these are from Asian markets with close trade links with mainland China: Australia, Hong Kong, Indonesia, Japan, South Korea, Macau, Malaysia, Nepal, Pakistan, Singapore and Thailand. The rest are: Austria, Belarus, Norway, France and Lithuania from Europe; and seven from South America or Africa - Bolivia, Chile, Ghana, Kenya, Nigeria, South Africa and Tanzania.