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Yuan

Yuan
The Chinese yuan, also known as the renminbi, is already convertible under the current account - the broadest measure of trade in goods and services. However, the capital account, which covers portfolio investment and borrowing, is still closely managed by Beijing because of worries about abrupt capital flows.
Historical data indicates that a stronger yuan bodes well for Chinese stocks. Photo: AP
China stock market

Yuan rally drives mainland China and Hong Kong stocks to strong 2026 start

History points to more gains as CSI 300 and Hang Seng Index surge during yuan appreciation cycles over the past decade.

Chinese offshore investment

How China’s global investment model is changing – and what it means for the yuan

China exports

Yuan to strengthen to 6.85 per US dollar in first quarter 2026: Morgan Stanley

Banking & finance

Chinese financial firms press on with debt issuance to fund overseas expansion

Guangzhou-based GF Securities announces plan to raise US$780 million after mainland Chinese finance firms raise over US$10 billion in 2025.

Chinese financial firms raised over US$10 billion last year to fund their overseas expansion. Photo: AFP
Banking & finance

US dollar, gold rise after Maduro abduction as investors seek safe havens

Yuan also remains relatively resilient as analysts predict the Chinese currency could strengthen to as high as 6.8 against the US dollar in 2026.

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Hong Kong economy

Opinion | How Hong Kong can complement Hainan’s free-trade port

Jointly designed customs rules could be used in pilot schemes to smooth the customs process for international business.

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Banking & finance

How China is upgrading its digital yuan for the stablecoin era

Beijing is upgrading its digital currency in response to the rise of stablecoins, but the goal is to create a fundamentally different system.

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A booth promotes the digital yuan at an expo in Beijing. China is upgrading its digital currency as it aims to create an alternative to stablecoins and cryptocurrencies. Photo: AP
Mainland China

China sets yuan fixing rate at 15-month high amid offshore gains

The move follows offshore yuan briefly breaching seven-per-US-dollar mark, with analysts citing dollar weakness, seasonal factors for rally.

Currencies

China’s offshore yuan breaks major benchmark as appreciation momentum builds

For the first time since 2024, the currency strengthened past the threshold of seven per US dollar – and did it again the next day.

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China trade

China expands digital-yuan push to Singapore and Asean trade routes

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

A customer makes a payment using China’s digital currency, or e-CNY, at a store in Beijing. Photo: Getty Images
China trade

What China’s global yuan push looks like – and what could hold it back

Currency sees wider use in trade, but high domestic savings and partial capital controls still act as constraints, analysis shows.

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The yuan has seen a notable rise as a settlement currency in China’s international trade flows. Photo: Shutterstock
Technology

Opinion | Forget the US dollar. Watch water and energy resources instead

In our increasingly hi-tech-based economy and financial systems, energy and water resources will be macroeconomically critical.

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US-China decoupling

Open Questions | Yeo on how Trump wants to avoid Taiwan upending China relations

Former Singapore foreign minister George Yeo says that Donald Trump is prioritising stable relations with China, and that the US is facing decline amid a shift to a multipolar world.

Foreign exchange market

China’s currency comeback: yuan seen breaking key dollar level in 2026

Analysts bet US Federal Reserve rate cuts and thawing trade tensions will drive China’s yuan past the 7.0 psychological barrier.

The offshore yuan was at 7.048 per US dollar early Monday afternoon. Photo: dpa
China jobs

Open Questions | Economist Huang Yiping on why China’s AI push must be ‘job-oriented’

Dean of Peking University’s National School of Development says ‘balance’ needed in AI development to protect employment, ‘human well-being’.

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Illustration: Lau Ka-kuen
China trade

‘Strong breakwaters’: China’s central bank vows to shield from external shocks

Governor Pan Gongsheng says policy must prioritise the domestic economy, warning against ‘excessive policy swings’ that could undermine long-term stability.

Open Questions series

Open Questions | Huang Yiping on AI and stablecoins’ risks and rewards for China

Influential economist says growth in artificial intelligence must protect livelihoods and Chinese central bank’s cryptocurrency caution is warranted.

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Bonds

China’s currency push gains ground as Russia nears issuance of yuan bond

Foreign governments have raised a record 13 billion yuan (US$1.8 billion) via yuan bonds this year, Bloomberg-compiled data shows.

A photo taken on November 10, 2025, shows a view of the Kremlin in Moscow. Photo: Xinhua
Currencies

China sets strongest yuan fix in over a year as Fed-cut bets rise

China’s currency is outperforming the euro and yen despite economic headwinds, with analysts pointing to Beijing’s geopolitical leverage as the driver.

Banking & finance

Yuan’s long-term hedge costs equalise for first time since 2011

The risk reversal as the yuan has fared better than expected this year and as investors brace for a weaker dollar on Fed rate cut prospects.

Diplomacy

Opinion | As power balance tips to China, world needs a fairer financial system

China-led macro region will have to work on independence of monetary policy and partnerships in a fairer financial and trade framework.

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Illustration: Craig Stephens
Japan

Japanese yen weakens to 9‑month low, hits 155 to US dollar amid uncertainties

Stocks and bond market slump as investors fret over expansionary fiscal plans, fading US rate-cut bets, and a China-Japan diplomatic row.

The Japanese yen’s exchange rate briefly weakened beyond 155.3 to the US dollar on Tuesday. Photo: Reuters
Banking & finance

Yuan rapidly gaining ground as Chinese firms plot global expansion

Yuan’s use in cross-border payments rose 14 per cent year on year to 35 trillion yuan (US$4.9 trillion), according to the People’s Bank of China.

Banking & finance

As China’s central bank projects confidence, are rate cuts on the back burner?

The People’s Bank of China said the economy was on track to hit its annual growth target despite facing a challenging environment.

Banking & finance

HKEX invests in HKMA unit, strengthening city’s financial market infrastructure

HKEX to invest US$58.5 million in CMU OmniClear, which operates the Central Moneymarkets Unit that provides services for debt securities.

The HKEX will invest up to HK$455 million to acquire a 20 per cent stake in the HKMA’s CMU OmniClear Holdings. Photo: Karma Lo
China economy

Why China’s growing global investments could spur yuan internationalisation push

As firms expand overseas, rising investment demand and appetite for yuan assets and swap agreements may prompt Beijing to take action.

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One hundred yuan bill with a flag of China. Photo: Shutterstock
Currencies

China’s yuan added to aviation settlements in boost to internationalisation

The International Air Transport Association is adding the yuan to the basket of currencies available for payments through its clearing house.

Currencies

As China holds the line in ‘trade war 2.0’, its yuan follows suit

With minimal depreciation and more frequent use overseas, the yuan has shown greater resilience in this round of the US trade conflict.

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