Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters
Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters
Yuan
Economy /  China Economy

China to relax rules on cross-border yuan use, as currency hits 30-month high against US dollar

  • New rules to kick in on February 4 will make it easier for individuals, investors and companies to settle in yuan internationally
  • Policy shift comes after yuan rally continues into 2021, with Beijing aiming to prevent the currency from becoming overvalued

Topic |   Yuan
Frank Tang
Frank Tang in Beijing

Updated: 12:33pm, 6 Jan, 2021

Why you can trust SCMP
Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters
Beijing’s decision to loosen rules over cross-border usage of the yuan come after the Chinese currency rallied to a 30-month high against the US dollar. Photo: Reuters
READ FULL ARTICLE