The global rise of the renminbi, the Chinese currency also known as the yuan, is being driven by shifting supply chains rather than a campaign against the US dollar, according to a senior Deutsche Bank executive, following the German lender’s appointment as Europe’s first non-Chinese renminbi clearing house. Konrad Haunit, Deutsche Bank’s head of multinational corporate coverage for Asia-Pacific, Middle East and Africa, said the yuan’s wider use had grown steadily over the past five years. “It’s...