China's Yuan Reaches Record Payments
This is a China news story, published by South China Morning Post.
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Chinese currencySouth China Morning Post
•China’s yuan fitting the bill as currency wins record share of global payments
77% Informative
China ’s yuan hits internationalisation landmark with record share of global payments.
China encouraged use of its currency in international trade settlements in 2009 .
Yuan usage has been on the rise since Russia was ejected from the US dollar system after its invasion of Ukraine in February 2022 .
Value of payments settled in yuan increased by 13.4 per cent compared with June .
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