News with the tag "Yuan"

The Chinese Yuan has surged to a 9-month high, driven by China's economic recovery and strong exports, with UBS forecasting further appreciation, impacting global trade and investment.

China is exploring offshore yuan stablecoins as a strategic tool for global financial influence, with CICC advocating for their adoption to enhance cross-border trade and investment.

Shanghai is exploring the development of a yuan-backed stablecoin to challenge the dominance of U.S. dollar-linked stablecoins in the global digital finance and trade sectors, supported by Chinese tech giants and government initiatives.

China's digital yuan (e-CNY) is unlikely to challenge the US dollar's global dominance due to structural and trust-related limitations, despite being a significant technological advancement.

JD.com and Ant Group are advocating for yuan-based stablecoins in Hong Kong to reduce reliance on U.S. dollar-linked digital currencies and promote the yuan's global role.