The yuan’s internationalization goal is “not to replace the US dollar,” said the top Chinese bank official

The yuan’s internationalization goal is “not to replace the US dollar,” said the top Chinese bank official




China has downplayed US concerns about its ambitions for the yuan, and the new deputy governor of the People’s Bank of China (PBOC) insisted that “our goal is not to replace the US dollar or any other international currency.” Digital currency efforts have drawn the attention of various American officials. The US Treasury Department, State Department, Pentagon, and National Security Council are reported to have stepped up efforts to understand the potential impact.

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China has downplayed US concerns about its ambitions for the yuan, and the new deputy governor of the People’s Bank of China (PBOC) insisted that “our goal is not to replace the US dollar or any other international currency.” Digital currency efforts have drawn the attention of various American officials. The US Treasury Department, State Department, Pentagon, and National Security Council are reported to have stepped up efforts to understand the potential impact.

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