China's Yuan Internationalization Strategy: Aiming to Evade Financial Sanctions Rather Than Challenge Dollar Hegemony
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View chart & analysis → - 1Zhong Yuan Joy Liu stated that China aims to build a yuan network to avoid U.S. financial sanctions instead of pushing out the dollar.
- 2The People's Bank of China has signed currency swap agreements with 32 foreign central banks and monetary authorities.
- 3Foreign investor holdings in the Chinese bond market recorded 1.6% in March.
So what's the key point?
China is expanding the use of the yuan to avoid U.S. financial sanctions. It is building a yuan network by increasing cooperation with foreign central banks.
Source Fortune · View original ↗
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