China central bank officials see bigger global role for yuan as US dollar wanes

The Chinese currency is set to play a bigger role in global trade and investment in the wake of the pandemic, with the dominance of the US dollar in the international monetary system expected to decline, two Chinese central bank officials said on the weekend.Ding Zhijie, head of a research centre at the State Administration of Foreign Exchange, said the yuan had become a sought-after asset for global investors seeking stability and absolute returns as government bonds denominated in the US…

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