China trade: yuan settlements seen rising as geopolitical strife fuels currency diversificationThe share of Chinese trade settled in its currency has been gradually rising, with China’s ‘robust exports’ since 2020 contributing to the trend
Beijing’s strict capital controls could also be serving to increase use of the yuan in trade settlements
by Kandy Wong
Trade showed that the share of Chinese trade settled in yuan rose from less than 20 per cent to nearly 30 per cent between early 2020 and August 2022, while more than 40 per cent of global trade is conducted with US dollars.
Source: SCMP
https://www.scmp.com/economy/china-econ ... sification
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