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Yuan marches forward in global settlements
Back on Dec 6, E-ter Network based in Yiwu, Zhejiang province, received a payment from a Saudi Arabian client for daily necessities such as storage boxes, water bottles and handbags. It took less than six hours for the money to reach the company's bank account, said Wu Jiajia, a member of the company's top management, much faster than he originally expected. "The transaction was initiated at about 5 pm Beijing time, and sometimes after 10 pm, we got a phone message notifying us of the arrival of the payment," Wu said. "Over 1.6 million yuan ($218,722)," he added. The amount may seem small. During the year 2022, E-ter ... (full story)