China has already signed more than 3 trillion yuan worth of bilateral currency swaps with more than 40 countries. Photo: Shutterstock
China has already signed more than 3 trillion yuan worth of bilateral currency swaps with more than 40 countries. Photo: Shutterstock
SCMP Editorial
Opinion

Opinion

Editorial by SCMP Editorial

China’s move banks on greater use of yuan

  • Liquidity arrangement at the Bank for International Settlements not only counters US global monetary dominance, but also is natural evolution for currency of world’s second largest economy

SCMP Editorial
SCMP Editorial

Updated: 6:54am, 3 Jul, 2022

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China has already signed more than 3 trillion yuan worth of bilateral currency swaps with more than 40 countries. Photo: Shutterstock
China has already signed more than 3 trillion yuan worth of bilateral currency swaps with more than 40 countries. Photo: Shutterstock
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