China doubles down on promoting yuan as confidence in U.S. dollar takes a beating

Key Points

China is introducing ways to bolster yuan’s usage as confidence in the U.S. dollar falters.
Three major Chinese exchanges have allowed certain foreign institutional investors to trade more futures and options contracts listed in mainland China.
From expanding investment channels to building digital infrastructure, Beijing has been laying the groundwork to accelerate international use of its currency.

Source

Finance

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Key Points Chinese Premier Li Qiang speaking at the opening plenary of the World Economic Forum’s annual conference in China, often dubbed “Summer Davos.” Engaging in the international economy is a way of “reshaping the rules and order,” Li said. Source

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