US EditionChina is expanding into digital currencies, hoping to promote use of its 'people's money'
China's digital yuan accounts for nearly 6% of trade financing transactions, aiming to reduce reliance on the U.S. dollar despite restrictions on convertibility and market access.
- China has been expanding use of digital currencies, including the e-CNY issued by its central bank, to promote wider use of its yuan.
- The yuan is the sixth most active currency for global payments by value, with a share of 2.88%, according to the Society for Worldwide Interbank Financial Telecommunication .
- China has banned private decentralized digital currencies like Bitcoin while encouraging use of the digital yuan, with some cities using it to pay civil servants' wages.
22 Articles
22 Articles
China is expanding into digital currencies, hoping to promote use of its 'people's money' (Business)
China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status as the world's second-largest economy and challenge the overwhelming sway of the U.S. dollar in international trade and finance. However, restrictions on access to Chinese fina...
Associated Press News
China is expanding into digital currencies, hoping to promote use of its 'people's money'
China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status as the world's second-largest economy.
China’s secret weapon against the dollar is a yuan stablecoin
China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status as the world’s second-largest economy and challenge the overwhelming sway of the U.S. dollar in international trade and finance. However, restrictions on access to Chinese…
Coverage Details
Bias Distribution
- 47% of the sources lean Left, 47% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
