Taking the global payment value as an example, the yuan ranked only fifth with a share of 1.95 per cent in May, compared with 40 per cent for the US dollar, according to the Society for Worldwide Interbank Financial Telecommunication. Photo: EPA-EFE
China’s yuan internationalisation strategy needs ‘persistent, strong foreign demand’
- Renmin University vice-president Liu Yuanchun believes China should look to drive demand for yuan-denominated assets as part of its internationalisation strategy
- Renmin University on Saturday will release its yuan internationalisation index, which measures the popularity of the currency
Taking the global payment value as an example, the yuan ranked only fifth with a share of 1.95 per cent in May, compared with 40 per cent for the US dollar, according to the Society for Worldwide Interbank Financial Telecommunication. Photo: EPA-EFE
