China is taking its first concrete steps toward developing stablecoins linked to the yuan, aiming to counter the rising ...

The yuan internationalisation index, released by Renmin University a week ago, rose by about 11 per cent in 2024 – further ...

China’s central bank stepped in to stabilize the yuan with its daily reference rate, after the currency dropped to a ...

First, enhance the intrinsic value of RMB assets and reinforce market confidence.

The yuan is closing in on its biggest weekly drop in over six months as the dollar rebounds, sharpening the focus on the ...

Some Chinese officials worry that the U.S.'s decision to embrace stablecoins through the Genius Act might reverse the trend ...

The digital yuan originated with a project launched by the People’s Bank of China (PBOC) in 2014. At the time, central bank digital currencies or CBDCs were a new idea discussed only in ...

For the yuan to replace the dollar, it will, for instance, have to gain much wider acceptance than it presently has as a basis of trade and of import and export contracting. According to the ...

The yuan, also referred to as the renminbi , hit 7.0234 per dollar on Thursday, levels last seen in December before euphoria over China's reopening after the COVID-19 pandemic lifted it for a few ...