Yuan internationalisation sees significant progress in 2022. Can it maintain the momentum?
A staff member counts and sorts RMB cash deposited by customers at a bank in Haian, East China's Jiangsu Province, July 12, 2022.
Synopsis
The yuan looks set to gain further traction globally this year, as the People’s Bank of China implements government’s strategy to boost the currency’s use overseas. An expected recovery in the Chinese economy, and the launch of programs such as the Swap Connect and yuan-denominated share trading in Hong Kong, are likely to improve the currency’s offshore demand.
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