China is stepping up efforts to reduce a reliance on the US dollar for bilateral trade with countries across the region. Photo: Xinhua China is stepping up efforts to reduce a reliance on the US dollar for bilateral trade with countries across the region. Photo: Xinhua
China is stepping up efforts to reduce a reliance on the US dollar for bilateral trade with countries across the region. Photo: Xinhua

China-US tensions drive Beijing’s push of yuan in belt and road nations, but challenges remain

  • China is stepping up efforts to internationalise the use of the yuan in Southeast Asian nations taking part in its Belt and Road Initiative
  • Despite growing China-Asean trade, use of the yuan in global trade is limited and its share of currency reserves is still below 2 per cent

Topic |   China economy
China is stepping up efforts to reduce a reliance on the US dollar for bilateral trade with countries across the region. Photo: Xinhua China is stepping up efforts to reduce a reliance on the US dollar for bilateral trade with countries across the region. Photo: Xinhua
China is stepping up efforts to reduce a reliance on the US dollar for bilateral trade with countries across the region. Photo: Xinhua
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