The yuan is expeceted to become one of the major global settlemet, payment, trading and reserve currencies in the next 15 to 20 years. According to the presiden of the Bank of China, the total volume of yuan-denominated, cross-border trade settlement amounted to RMB4.07 trillion in the first 11 months of this year, jumping by 56% y-o-y. The volume of direct investment in yuan increased 83% to reach RMB404.5b in the same period.
Written by Dora Men
Source:
