HSBC Holdings (HBC.NYSE, HSBA.LSE, HSB.Euronext, 0005.HK) announced it will offer Australian customers renminbi-denominated financial products, as part of the bank’s larger efforts to provide services in China’s currency across the region, the Wall Street Journal reported. Clients in Australia will be able to buy and sell renminbi, arrange forward contracts for the currency and access renminbi trade finance, among other services. The move means that Australian businesses will be able to hedge their currency risk when doing business with China. Although the country has traditionally maintained a tight rein over its currency, last year China started pushing to settle more of its trade with the rest of the world in renminbi. It has also loosened its grip on trading the renminbi outside the country. HSBC offers similar services in 10 other countries or territories in the region, including Singapore, South Korea, Japan and Mauritius.