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Currency war
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The People’s Bank of China set the yuan’s midpoint rate, also known as the daily fixing rate, at 7.0103 to the US dollar on Tuesday. Photo: dpa
Yuan

China’s PBOC sets onshore yuan fixing at strongest point in nearly 16 months

Analysts note how Beijing’s policy goals, such as internationalising China’s currency and curbing overcapacity, are aligning with a firmer exchange rate.

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Yuan

China expands digital-yuan push to Singapore and Asean trade routes

Yuan

China sets strongest yuan fix in over a year as Fed-cut bets rise

Yuan

New phrase, new phase? China adjusts language on yuan internationalisation

Beijing now states plainly that it aims to ‘promote the internationalisation of the yuan’ amid growing doubts over the US dollar.

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China appears to be stepping up efforts to promote the international use of its currency amid rising tensions with the United States. Photo: dpa
Banking & finance

China doubles down on crypto crackdown as central bank vows to expand digital yuan

PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

China digital currency

Could China ‘militarise’ cryptocurrencies to beat financial sanctions?

Communist Party newspaper Study Times argues that digital assets are the new toolbox for wartime financial strategies.

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Yuan

Chinese yuan’s forex market share grows to 8.5% as global position firms: survey

Beijing’s push to internationalise the yuan is reflected in its rising global use amid efforts to reduce reliance on the US dollar, which has shored up its forex dominance.

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The yuan’s share in global forex trading has been gradually climbing in recent years, according to survey results. Photo: Felix Wong
China-Russia relations

China’s vision of multipolar order depends on yuan-based system: Oleg Deripaska

Russian billionaire and Putin associate says Beijing is taking a cautious tack on dedollarisation.

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Banking & finance

China’s belt and road investments plays to Hong Kong’s strengths: HSBC

City set for bigger role in green finance, offshore yuan as initiative shifts towards private sector-led projects, economist says.

Yuan

China’s yuan could strengthen to 7 per US dollar as Fed sends dovish signals

The Chinese currency is already rising against the US dollar and will receive another boost if the Federal Reserve cuts interest rates.

The Chinese yuan may strengthen to 7.0 against the US dollar by the end of the year, according to a Goldman Sachs forecast. Photo: AFP
Yuan

China’s yuan fixing rate hits 9-month high after dovish pivot by US Fed chair

Move by China’s central bank comes after Jerome Powell opened the door to an interest rate cut next month.

China’s central bank has set the yuan’s daily reference rate against the US dollar at the strongest level in more than nine months. Photo: AFP
Yuan

Why the yuan can be safe-haven currency: former bank official flags ‘advantages’

Authors, including the PBOC’s former statistics head, call for ‘a new vision where multiple currencies jointly support global financial stability’.

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Yuan

China needs yuan-backed stablecoins ‘sooner rather than later’, Beijing urged

The US dollar’s dominance in global markets could be enhanced by stablecoins, and China has a golden chance to make the yuan a more global currency, analysts say.

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US-China trade war

China cuts US Treasury stockpiles to 16-year low amid Trump’s trade war

As tariffs rattled markets in April, Beijing’s US debt holdings fell to their lowest level since 2009.

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Photo shows US dollar and Chinese yuan banknotes in Fuyang city, East China’s Anhui province. Photo: CFOTO/Future Publishing via Getty Images
Stablecoins

Why US-backed stablecoins have China wary of a potentially more dominant dollar

Former head of China’s central bank warns ‘USD-backed stablecoins could have worldwide influence’, and what about the yuan’s internationalisation?

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Illustration: Shutterstock
US-China relations

US avoids currency manipulator label for China, but slams lack of transparency

The decision not to sanction China for currency manipulation comes after Trump hailed a ‘very positive’ call with President Xi Jinping.

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Open Questions series

Open Dialogue | Yu Yongding and Kenneth Rogoff on yuan’s future as international currency

Two economists from China and the US debate the dollar’s diminished status and efforts to internationalise the Chinese yuan.

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Banking & finance

Explainer | What is the Genius Act, and can it really cement US dollar supremacy?

The US’ new crypto regulation bill aims to ensure the dollar remains the world’s reserve currency.

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Vice-President J.D. Vance urges Congress to pass the Genius Act during a speech at the Bitcoin 2025 Conference in Las Vegas. Photo: K.M. Cannon
US-China trade war

Will US dollar doubts, risk of ‘triple whammy’ give rise to yuan’s renaissance?

In the wake of tariff turmoil and Washington’s ‘Big Beautiful Bill’, analysts are questioning safety of US assets while yuan’s resilience turns heads.

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Banking & finance

Explainer | Why central banks are playing a big role in pushing up gold prices

Governments are buying up gold as they see it as a safe investment – and, in some cases, a tool for evading Western sanctions.

China economy

My Take | Beijing should push for more yuan global influence as faith in US dollar falters

Amid erratic US trade policies, Asian governments are looking for alternatives for reserves, payments and settlements, giving the yuan an opening.

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A man walks past an advertisement promoting exchange services for the yuan, US dollar and euro in Hong Kong on August 13, 2015. Photo: Reuters
Banking & finance

China equips Hong Kong with ‘toolbox’ to propel yuan amid de-dollarisation

Doubts about the dollar’s supremacy present a unique opportunity to accelerate the yuan’s internationalisation.

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Illustration: Henry Wong
Singapore

Singapore’s central bank chief sees ‘no alternative’ to US dollar assets

Even with three major credit rating agencies now downgrading the US, Singapore’s central bank boss says US dollar assets are irreplaceable.

Yuan

China’s yuan can rival US dollar as go-to currency if more accessible: economist

‘US exceptionalism is over – the beginning of the end,’ Singapore-based economist warns while weighing in on how China can internationalise its currency.

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United States

Opinion | Either way, Trump’s push for a global monetary reset will be painful

There will be pain, either shared by all voluntarily through peaceful negotiation or imposed on all through force. Take your pick.

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A clerk sorts US banknotes at the headquarters of Hana Bank in Seoul on April 15. Photo: EPA-EFE
Yuan

Explainer | Has Asia just taken a step away from the US dollar?

Asia’s largest economies have broken new ground by approving an emergency financing tool using the yuan and other local currencies.

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China is accelerating its efforts to expand the role of the yuan as a global currency amid an intensifying trade war with the United States. Photo: AFP
Yuan

China’s offshore yuan jumps to 6-month high as tariff rollback likely: analysts

Washington’s weaponisation of tariffs casts doubt on US asset safety, and some say this makes yuan assets more attractive.

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US-China trade war

China rolls out plan to promote its own payment system as US trade war simmers

The country aims to reduce its reliance on the dollar-based global financial system as it confronts Washington’s aggressive trade policies.

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