China says yuanโs global rise is โirreversibleโ โ and has a strategy to back it up
Chinese financial authorities have pledged further steps to expand the yuanโs global use amid a broader de-dollarisation trend, while vowing to make listing on mainland stock exchanges the โprimaryโ choice for top-tier domestic companies. โThe internationalisation of the yuan is a continuous and steady process, and an irreversible trend,โ said Lu Lei, deputy governor of the Peopleโs Bank of China (PBOC), at a press conference on Thursday. To meet growing demand from market participants seeking...