China should leverage buying power to boost yuan’s use, former PBOC adviser says
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With the yuan’s fixing at fresh 2023 highs and US dollar uncertainty rising under Trump, Beijing is urged to expand yuan-settled imports to internationalise its currency.

China should leverage its massive buying power to boost imports settled in yuan and shift towards a more balanced trade structure, to accelerate the currency’s global use, according to a former central bank adviser. The proposal signals a potential opportunity for the yuan’s internationalisation, years after Beijing kicked off the process in 2009 by allowing selected exporters to be paid in the Chinese currency. “China is the world’s largest goods exporter, but the yuan’s international standing…

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