Beijing is stepping up efforts to widen the role of the yuan in international trade, allowing its domestic commercial banks to expand direct settlement arrangements with a growing number of foreign currencies, including the baht, aiming to reduce usage of the US dollar as an intermediary in cross-border trade.

Larger part for yuan in trade

China is allowing more direct settlement in its currency for bilateral deals, but the dollar still sets the market

PUBLISHED : 17 Aug 2026 at 05:12

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