China’s yuan to become more influential part of the global financial system, survey shows

The Chinese yuan is on course to become a much more influential part of the global financial system with almost a third of central banks planning to add the currency to their reserve assets, a closely followed survey showed.The Global Public Investor survey, published annually by the London-based OMFIF think tank, showed 30 per cent of central banks plan to increase yuan holdings over the next 12-24 months, compared with just 10 per cent last year.It comes despite the differences between…

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