Transactions on a new China-led digital currency platform have surged to over $55 billion, a new report shows, the latest sign that efforts to build alternatives to dollar-dependent global payment systems are ​gaining traction.

China wants a slow, managed move in its currency. The market—and China’s trading partners—may not be as patient.

The People's Bank of China is transferring the digital yuan from cash to deposits. ・The PBOC reportedly said interest on verified e-CNY accounts will link the digital yuan to traditional deposits and prevent migration to non-interest-bearing wallets.

The yuan climbed past the psychological milestone of 7 per dollar for the first time since September 2024, on bets China’s central bank will allow gradual currency appreciation to boost market confidence. The offshore yuan gained as much as 0.2% to 6. ...

China has deliberately kept the yuan stable in recent years, prioritizing currency credibility and controlled internationalization over export-driven devaluation, as a weaker currency now risks trade tensions,

BANGKOK — China has been expanding use of digital currencies as it promotes wider use of its yuan, or renminbi, to reflect its status as the world’s second-largest economy and challenge the overwhelming sway of the U.S. dollar in international trade ...

A documentary on state television highlights how a senior central bank official was bribed with a digital currency.

"Today it was announced that China is reducing its currency. Did you see that? Big, big. In other words, they're going to make up for it. They got every trick in the book. I'll tell you, they are great. You gotta hand it to them. You gotta hand it to them.

Government has clarified that the decision to allow the payment of some mining taxes in the Chinese currency, Renminbi also known as Yuan, is

Analysts note how Beijing’s policy goals, such as internationalising China’s currency and curbing overcapacity, are aligning with a firmer exchange rate.