Standard Chartered China CEO: ‘No Way’ Yuan Challenges USD, May Have Chance Against Pound and Yen

'No way' the yuan challenges the U.S. dollar—though the yen and the pound may have more to fear, says Standard Chartered's China CEO

“There is no way—at least in my career—for the RMB to challenge the USD,” Jean Lu said during a media roundtable in Singapore.

China’s Yuan Not Yet Ready to Challenge USD, Potentially Competing Against Pound and Yen

Despite China's efforts to boost the yuan's global relevance, Standard Chartered China CEO Jean Lu dismissed the idea of the yuan replacing the U.S. dollar anytime soon. Lu highlighted that while the yuan may not challenge the USD, it could pose competition to second-tier currencies like the pound and yen. The Chinese government's focus on expanding the yuan's international role is evident in the recent five-year plan. This plan outlines strateg…

Standard Chartered China CEO Says Yuan Won’t Challenge Dollar in Her Career

Jean Lu said the renminbi may compete more closely with the yen and pound as China expands its use in trade and offshore finance.

Standard Chartered China CEO: ‘No way’ yuan challenges USD, may have chance against pound and yen

Despite its gains in global trade, the yuan isn’t going to replace the U.S. dollar in global reserve holdings any time soon, Standard Chartered China CEO Jean Lu argued on Wednesday, even as Beijing tries to encourage greater use of the Chinese currency. “There is no way—at least in my career—for the RMB to challenge […]