Since last week, five Chinese commercial lenders have launched American Express cards that can make yuan payments both inside and outside China. Photo: ShutterstockSince last week, five Chinese commercial lenders have launched American Express cards that can make yuan payments both inside and outside China. Photo: Shutterstock
Since last week, five Chinese commercial lenders have launched American Express cards that can make yuan payments both inside and outside China. Photo: Shutterstock

American Express: new yuan card settlement network promotes global use of China’s currency

  • Beijing’s decision to let American Express join national clearing network will boost the yuan’s circulation and its role in global finance, analysts say
  • The move has the added benefit of reducing China’s reliance on the US dollar payments system as bilateral relations between Washington and Beijing deteriorate

Topic |   China economy
Since last week, five Chinese commercial lenders have launched American Express cards that can make yuan payments both inside and outside China. Photo: ShutterstockSince last week, five Chinese commercial lenders have launched American Express cards that can make yuan payments both inside and outside China. Photo: Shutterstock
Since last week, five Chinese commercial lenders have launched American Express cards that can make yuan payments both inside and outside China. Photo: Shutterstock
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