Currencies
RMB gains larger share in international payment: SWIFT2021-02-22
The Chinese currency renminbi (RMB), or the yuan, has retained its spot as the fifth most attractive currency for global payments by value in January but with a larger share as a global payment currency, said the Society for Worldwide Interbank Financial Telecommunication (SWIFT), a global provider of financial messaging services.
Chinese yuan's real EER strengthens for 6 months: BIS2021-02-15
The real effective exchange rate (EER) of the Chinese yuan has strengthened for six consecutive months up to December 2020, latest data from the Bank for International Settlement (BIS) showed.
Digital currency issued to boost Spring Festival consumption2021-02-08
Several Chinese cities are using digital renminbi (RMB) to boost consumption during the upcoming Spring Festival and promote the use of the new form of currency.
Yuan continues rally against greenback2021-01-08
China's renminbi moved to the strongest value against the US dollar in more than two years on Thursday, as global investors continued to have faith in the nation's strong economic recovery.
Digital yuan parades its strengths during trial2020-12-29
Imagine a digital currency that can be used even without the internet, one that does not have to be linked to a bank account and is treated just as bank notes and coins.
HK starts talks with PBOC for digital yuan pilot tests2020-12-10
The Hong Kong Monetary Authority said it is discussing the technical pilot testing of the digital yuan, or e-CNY, for cross-border payments with the Digital Currency Institute of the People's Bank of China, the central bank.
Yuan gets stronger as nation's forex reserves hit 4-year high2020-12-08
Global investors expect a stronger Chinese yuan to stabilize the world's largest foreign exchange reserves, fueled by optimism over the country's economic recovery and higher investment returns of domestic financial assets that will attract capital inflows-despite global financial vulnerabilities affected by the coronavirus pandemic.
Digital currency to change financial world2020-11-10
Digital currency, especially that issued by central banks, is poised to challenge existing payment methods by offering faster and more convenient ways to settle transactions.
Range of RMB rise to remain reasonable2020-10-24
China's robust economic recovery from the COVID-19 pandemic has helped stabilize confidence in the country's foreign exchange market, and the value of the renminbi is expected to remain generally stable with fluctuations within a reasonable range.
Exchange rate rise aids yuan internationalization2020-10-16
The appreciation of the renminbi will further bolster the Chinese currency's internationalization and enable market forces to have a greater say in determining exchange rates and fend off wild swings, monetary authorities said on Thursday.
China confident of keeping yuan stable2019-08-06
China's central bank on Monday reiterated that it is confident in its capability of keeping the yuan's exchange rate basically stable after both the onshore and offshore yuan broke seven against the U.S. dollar.
RMB's value determined by market forces2019-05-30
China would rather rely on market-oriented forces to determine the renminbi's value than defend its currency by dipping into its $3 trillion foreign exchange reserves amid trade disagreements, analysts said.
BRI fuels yuan's internationalization2019-04-29
The Belt and Road Initiative (BRI) has fueled the yuan's internationalization, particularly in the past two to three years as work on related projects accelerated. In Southeast Asia where economic relations with China are closer than in other countries and regions the yuan usage is getting popular, one expert told the Global Times on Monday.
Chinese yuan's share of global currency reserves increases in Q4: IMF2019-04-01
The Chinese yuan's share of currency reserves increased to 1.89 percent in the fourth quarter of 2018, ranking the fifth among all allocated reserves, the International Monetary Fund (IMF) said Friday.
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