Central bank set to boost market confidence2022-09-29
China's central bank is expected to prioritize stabilizing market confidence in the coming quarter, keeping monetary policy accommodative for economic recovery while fending off any rapid weakening of the renminbi against the dollar, experts said on Thursday.
Renminbi's global use set to expand2022-09-26
China's renminbi is expected to continue its steady rise in global use and play a bigger part in safeguarding international financial stability, as the country further advances its financial opening-up while deepening trade and investment cooperation, experts said.
Cross-border use of RMB rises in 20212022-09-24
The cross-border use of RMB reached 36.61 trillion yuan (5.24 trillion U.S. dollars) in 2021, up 29 percent year on year, China's central bank said Friday.
RMB may stay stable; firms must be risk-neutral2022-09-19
The US dollar saw its ups and downs last year before ending on a strengthening note. Meanwhile, the renminbi managed to stay strong against that backdrop amid the stratospheric $675.9 billion trade surplus China secured in 2021.
Digital yuan solutions enjoy major upgrade2022-09-09
China launched an advance payment solution based on digital yuan smart contracts on Thursday in the latest step to further enhance the e-CNY's role of reducing transaction costs and better protect consumer rights.
Experts sure RMB won't have meltdown2022-08-24
While the renminbi exchange rate against the US dollar touched a 23-month low on Monday, it is unlikely the Chinese yuan will depreciate significantly in the rest of the year, thanks to the country's economic resilience, said experts.
Renminbi gets global currency basket upgrade2022-08-02
The enhanced standing of the renminbi as a key global reserve asset will further boost the Chinese currency's accelerated march toward playing a more central role in the international financial governance system, officials and experts said.
RMB gains larger share in global payments: SWIFT2022-06-25
The Chinese currency renminbi (RMB), or the yuan, has retained its position as the fifth most active currency for global payments by value in May with a larger share, said the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global provider of financial messaging services.
Renminbi takes another global step2022-06-22
China's latest move to encourage renminbi settlement in cross-border e-commerce will help stabilize the operation of foreign trade enterprises and boost internationalization of the currency, experts said on Tuesday.
E-currency blossoming nationwide2022-05-18
Ever since the People's Bank of China, the country's central bank, announced in early April a list of 11 cities joining the trial use of the digital yuan, many first attempts have been made over the past month, largely enriching the e-CNY's application scenarios.
Chinese embrace digital yuan as China further promotes pilot program2022-05-15
Chinese people are embracing the digital yuan with a positive attitude. Thanks to the promotion of banking institutions, internet companies, and retail terminals, digital yuan now can be used in a wider range of scenarios.
Experts downplay yuan's depreciation2022-05-13
Though the yuan may face continued pressure from a strong US dollar in the coming weeks, the Chinese currency may gain a firmer footing later this year with a more stable COVID-19 situation and slower US monetary tightening, experts said on Thursday.
E-CNY designed for retail transactions, not to take place of dollar, expert says2022-04-18
China's e-CNY, also known as the digital yuan, is designed for retail transactions for the convenience of people and merchants, rather than to replace the US dollar, said Zhou Xiaochuan, president of the China Society for Finance and Banking.
European experts eye stronger growth of RMB as global currency reserve2022-04-12
The Chinese currency Renminbi (RMB) has been increasingly used as international currency in recent years, and it will play a more and more important role as a global currency reserve in the future, European experts have said.
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