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…
South Korea lifts 2026 growth forecast to 3% as AI boom boosts chip exports – Firstpost
South Korea has raised its 2026 economic growth forecast to 3.0 per cent, the highest in five years, as a global artificial intelligence (AI) boom drives demand for semiconductors and…