-
TOPIC

Yuan

Yuan
The Chinese yuan, also known as the renminbi, is already convertible under the current account - the broadest measure of trade in goods and services. However, the capital account, which covers portfolio investment and borrowing, is still closely managed by Beijing because of worries about abrupt capital flows.
China’s yuan has broken through the psychologically important level of 7 per US dollar for the first time in years, as confidence in US dollar assets weakens. Photo: AFP
Central banks

China lets yuan break through 7 per US dollar mark as dollar jitters grow

China’s central bank set the yuan fixing rate at under 7 per US dollar for the first time since mid-2023 as concerns over dollar assets mount.

videocam
8
China trade

China should leverage buying power to boost yuan’s use, former PBOC adviser says

videocam
China's economic recovery

Shanghai unveils road map to rival world cities in finance, tech and innovation

Banking & finance

China to cut relending rates, widen credit support for private sector and tech

Beyond the central bank’s rate cuts that take effect Monday, authorities will work to lower the minimum down payment for commercial property purchase loans to 30 per cent.

Paramilitary police officers stand guard in front of the headquarters of the People’s Bank of China in Beijing. Photo: Reuters
China trade

China’s US$1.2 trillion trade surplus

China posted its first trade surplus above US$1 trillion in 2025 as exporters reshaped operations to weather the US trade war and imports stagnated amid lower oil prices.

China manufacturing

Fears over China’s trade surplus misplaced as West also driving trend: analysts

China’s global manufacturing dominance is a tale of two halves; reliant on home-grown industrial growth and Western consumption, experts say.

videocam
4
Advertisement
Advertisement
Advertisement
People’s Bank of China (PBOC)

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.

videocam
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
Hong Kong stock market

Hong Kong stocks climb as yuan strengthens and investors broaden focus beyond US

Hang Seng Index advances as investors shift focus, boosting Asian equities, with pharmaceutical and healthcare shares leading gainers.

China stock market

Yuan rally drives mainland China and Hong Kong stocks to strong 2026 start

History points to more gains as CSI 300 and Hang Seng Index surge during yuan appreciation cycles over the past decade.

Chinese offshore investment

How China’s global investment model is changing – and what it means for the yuan

The trade war, weak domestic demand and stronger policy support push more firms to invest overseas, with growing implications for currency.

The logo of China’s Huawei Technologies Co is displayed on the middle of city road in Kuala Lumpur, Malaysia. Photo: EPA-EFE
China exports

Yuan to strengthen to 6.85 per US dollar in first quarter 2026: Morgan Stanley

Strong export growth and US dollar weakness are expected to bolster the currency, the bank says.

The yuan has appreciated against the US dollar in recent weeks. In late December, the offshore yuan dipped below the benchmark rate of seven against the US dollar. Photo: AFP
Banking & finance

Chinese financial firms press on with debt issuance to fund overseas expansion

Guangzhou-based GF Securities announces plan to raise US$780 million after mainland Chinese finance firms raise over US$10 billion in 2025.

Banking & finance

US dollar, gold rise after Maduro abduction as investors seek safe havens

Yuan also remains relatively resilient as analysts predict the Chinese currency could strengthen to as high as 6.8 against the US dollar in 2026.

videocam
4
Hong Kong economy

Opinion | How Hong Kong can complement Hainan’s free-trade port

Jointly designed customs rules could be used in pilot schemes to smooth the customs process for international business.

videocam
People look at phones in the Haikou International Duty Free Shopping Complex in Hainan province, on December 18, the day China launched island-wide special customs operations in the Hainan free-trade port. Photo: Xinhua
Banking & finance

How China is upgrading its digital yuan for the stablecoin era

Beijing is upgrading its digital currency in response to the rise of stablecoins, but the goal is to create a fundamentally different system.

4
A booth promotes the digital yuan at an expo in Beijing. China is upgrading its digital currency as it aims to create an alternative to stablecoins and cryptocurrencies. Photo: AP
Mainland China

China sets yuan fixing rate at 15-month high amid offshore gains

The move follows offshore yuan briefly breaching seven-per-US-dollar mark, with analysts citing dollar weakness, seasonal factors for rally.

Currencies

China’s offshore yuan breaks major benchmark as appreciation momentum builds

For the first time since 2024, the currency strengthened past the threshold of seven per US dollar – and did it again the next day.

14
Advertisement
Advertisement
Advertisement
China trade

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

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

A customer makes a payment using China’s digital currency, or e-CNY, at a store in Beijing. Photo: Getty Images
China trade

What China’s global yuan push looks like – and what could hold it back

Currency sees wider use in trade, but high domestic savings and partial capital controls still act as constraints, analysis shows.

7
Technology

Opinion | Forget the US dollar. Watch water and energy resources instead

In our increasingly hi-tech-based economy and financial systems, energy and water resources will be macroeconomically critical.

videocam
4
US-China decoupling

Open Questions | Yeo on how Trump wants to avoid Taiwan upending China relations

Former Singapore foreign minister George Yeo says that Donald Trump is prioritising stable relations with China, and that the US is facing decline amid a shift to a multipolar world.

illustration by Lau Ka-kuen
Foreign exchange market

China’s currency comeback: yuan seen breaking key dollar level in 2026

Analysts bet US Federal Reserve rate cuts and thawing trade tensions will drive China’s yuan past the 7.0 psychological barrier.

The offshore yuan was at 7.048 per US dollar early Monday afternoon. Photo: dpa
China jobs

Open Questions | Economist Huang Yiping on why China’s AI push must be ‘job-oriented’

Dean of Peking University’s National School of Development says ‘balance’ needed in AI development to protect employment, ‘human well-being’.

videocam
5
China trade

‘Strong breakwaters’: China’s central bank vows to shield from external shocks

Governor Pan Gongsheng says policy must prioritise the domestic economy, warning against ‘excessive policy swings’ that could undermine long-term stability.

Open Questions series

Open Questions | Huang Yiping on AI and stablecoins’ risks and rewards for China

Influential economist says growth in artificial intelligence must protect livelihoods and Chinese central bank’s cryptocurrency caution is warranted.

videocam
Illustration: Lau Ka-kuen
Bonds

China’s currency push gains ground as Russia nears issuance of yuan bond

Foreign governments have raised a record 13 billion yuan (US$1.8 billion) via yuan bonds this year, Bloomberg-compiled data shows.

A photo taken on November 10, 2025, shows a view of the Kremlin in Moscow. Photo: Xinhua
Currencies

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

China’s currency is outperforming the euro and yen despite economic headwinds, with analysts pointing to Beijing’s geopolitical leverage as the driver.

Banking & finance

Yuan’s long-term hedge costs equalise for first time since 2011

The risk reversal as the yuan has fared better than expected this year and as investors brace for a weaker dollar on Fed rate cut prospects.

Advertisement
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement