China’s yuan settlements hit record, and the Iran conflict is looking like a catalyst
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Rising demand for yuan settlement amid Middle East tensions is driving record transaction amounts in China’s cross-border payment system, analysts said, building on years of efforts to bolster financial infrastructure and expand its global network.
“The Middle East conflict may have acted as a catalyst,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered, citing rising demand for yuan settlement, particularly in oil trade.
China’s Cross-border Interbank...
“The Middle East conflict may have acted as a catalyst,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered, citing rising demand for yuan settlement, particularly in oil trade.
China’s Cross-border Interbank...
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