China's central bank vows to expand yuan's international use in five-year plan
The yuan has risen about 3.6% against the dollar this year as export demand strengthens and the central bank signals it will temper gains.
37 Articles
37 Articles
(Shanghai = Yonhap News) Correspondent Cha Byeong-seop = China is accelerating the internationalization of the yuan, including designating a European financial institution as its yuan clearing and settlement bank for the first time.
China has granted a European bank the authority to directly clear and settle yuan transactions for the first time. This move appears to be expanding into Europe as China seeks to reduce its dependence on the dollar-centric international financial system by increasing the use of the yuan in international trade and investment. According to the Financial Times (FT) on the 11th (local time), the People's Bank of China, the country's central bank, [g…
Commentary: A Weaker Dollar Order Creates an Opening for the Yuan
Commentary: A Weaker Dollar Order Creates an Opening for the Yuan - Washington’s weaponization of the financial system and ballooning debt are eroding the dollar’s 'dual anchors,' opening the door for the global rise of the Chinese yuan
At the end of June, the Chinese central bank announced a series of measures to promote the internationalization of the currency.
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