Ecclesiastes 1:9
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‘Big Room’ to Boost Yuan’s Usage Among Belt and Road Nations, Central Bank Official Says
The use of the yuan could be greatly boosted in countries involved in the “Belt and Road” program, a deputy governor of China’s central bank said, as Beijing presses ahead with its ambitious plans to enhance the international clout of the Chinese currency. “The yuan is the most natural choice for participants in the Belt and Road initiative,” Yin Yong said at an investment forum on Tuesday. While China is the biggest trading nation, the yuan’s use in the world market is limited. Currently, only 14% of all cross-border trade in goods with countries in the Belt and Road initiative was settled in yuan terms. ... (full story)