Xi wants yuan’s global punch to match Chinese economic might



Xi wants yuan’s global punch to match Chinese economic might
President Xi Jinping has called for China’s yuan to become a global reserve currency, underscoring ambitions to carve out a greater role for it in world finance.
The country needed a “powerful currency” that could be “widely used in international trade, investment and foreign exchange markets, and attain reserve currency status”, Xi said in a commentary published on Saturday in Qiushi, the Communist Party’s ideology journal. The comments were first made in a 2024 speech to officials.
Xi spoke of…

  • Related Posts

    India hikes gold duty to 15% from 6% amid rising forex stress and trade deficit fears – Firstpost

    India has raised gold and silver import duties to 15 per cent from 6 per cent as the Narendra Modi government seeks to curb soaring bullion imports, protect forex reserves,…

    Continue reading
    Indian-origin CEOs beat Wall Street? Viral backtest of Michael Milken remark sparks debate – Firstpost

    A viral post by Indian-origin entrepreneur Debarghya Das claims companies led by Indian-born CEOs massively outperformed the S&P 500 over 15 years, reviving debate around leadership, immigration and Big Tech…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *