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Cover Story: Why the Yuan Is Suddenly Gaining International Traction

By Wang Liwei, Peng Qinqin and Denise Jia
2022年10月24日 07:40
China’s 13-year campaign for its currency benefits from sanctions on Russia, flight from the dollar and advanced development of digital yuan

China’s 13-year push for greater international use of its currency is suddenly gaining traction. The yuan now accounts for nearly half of China’s domestic and foreign currency cross-border settlements, and foreign governments and businesses are coming increasingly to consider it as an alternative to the U.S. dollar.

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