The shifting international monetary order is giving Beijing new room to expand its influence, analysts say.
China is stepping up efforts to internationalise the yuan, as growing doubts about the US dollar’s stability provide a window of opportunity for the currency.
The People’s Bank of China (PBOC) announced at its midyear meeting that it would expedite the yuan’s use in trade settlement and cross-border financing.
“[We’ll] accelerate the expansion of the yuan’s use in trade, further enhance its financing function and optimise policies governing funding pools and overseas listings of domestic companies,” the central bank said.
