China Raises Cross-Border Yuan Use Requirement for Major Banks

China Raises Cross-Border Yuan Use Requirement for Major Banks

China’s central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US.

China Wants Banks to Up Yuan Use in Cross-Border Transactions

The People's Bank of China has increased the base ratio for yuan-denominated trade transactions from 25% to 40%.

China orders top banks to raise yuan share in cross-border trade amid tariff tension

The post China orders top banks to raise yuan share in cross-border trade amid tariff tension appeared on BitcoinEthereumNews.com. China told its biggest banks to increase the use of the yuan in trade with foreign partners, raising the required ratio to 40% from 25%, according to Bloomberg. The People’s Bank of China is using this new policy to push the currency deeper into global markets, especially as more countries question their dependence o…

China raises cross-border renminbi use requirement for major banks

China’s central bank asked its major lenders to raise the share of renminbi when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US.