Australia and New Zealand Banking Group (ANZ) Monday launched offshore yuan capability in Fiji, becoming the first bank in the South Pacific island countries to provide corporate and commercial customers with the ability to trade directly in yuan when doing business in China, Xinhua reported.

"This is a significant milestone to further support our customers in Fiji and ANZ recognizes that with the internationalization of the renminbi, we can further support our customers that are growing their business through trade with China," Vishnu Mohan, ANZ's chief executive officer for the Pacific and Fiji, said at a launching ceremony.

Xinhua