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China pushes Shanghai’s digital yuan model to national free trade zones

The People’s Bank of China is taking steps to expand its digital yuan project, starting with its free trade zones. On Friday, June 4, officials at the People’s Bank of China announced the expansion of financial innovations tied to its Shanghai Free Trade Zone. Notably, this includes broader applications of the digital yuan. Ji Min, … Read more

China doubles down on promoting yuan as confidence in U.S. dollar ebbs

A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Athit Perawongmetha | Reuters China is devising more ways for foreign institutions to use the yuan, as international confidence in the U.S. dollar falters. The moves aim at challenging the greenback, … Read more

China keeps LPR steady as Trump tariffs pressure yuan

The People’s Bank of China (PBOC) building in Beijing, China, on Thursday, Dec. 15, 2022.  Bloomberg | Getty Images China expectedly kept its loan prime rates unchanged Monday, with the 1-year LPR at 3.1% and the 5-year at 3.6% as the central bank appears focused on stabilizing the yuan amid trade tensions with the U.S. … Read more

China’s central bank follows U.S. Fed in keeping rates steady as tariff threats pressure yuan

BEIJING, CHINA – JANUARY 06: The People’s Bank of China (PBOC) building is seen on January 6, 2025 in Beijing, China.  Visual China Group | Getty Images China kept its key lending rates unchanged on Thursday, as Beijing juggles propping up growth and stabilizing its currency amid mounting trade frictions. The People’s Bank of China … Read more

A weakening yuan tests Beijing’s resolve as Trump tariff threats loom

YINAN, CHINA – DECEMBER 26 2024: A worker counts RMB banknotes during a gathering to distribute the yearly dividend to members of an agricultural co-operative in Yinan county in east China’s Shandong province Thursday, Dec. 26, 2024.  Wang Yanbing | Future Publishing | Getty Images The Chinese yuan is widely expected to depreciate against an … Read more

China keeps benchmark lending rates unchanged as it contends with a weakening yuan

The central bank of the People’s Republic of China is responsible for formulating and implementing monetary policies, preventing and defusing financial risks and maintaining financial stability. Peng Song | Moment | Getty Images China left its benchmark lending rates unchanged Monday, as Beijing contends with a weakening yuan while awaiting policy clues from the incoming … Read more

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