Shuli Ren, Columnist

Beijing's Yuan Ambitions Look Dashed

Liquidity is one reason China's currency hasn't gone further on the world stage.

January 7, 2018 at 10:00 PM UTC

Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.

1515131679_GettyImages-477828050 — Photographer: fmcginn/Getty Images

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As 2018 gets underway, China seems to be on top again. The yuan has strengthened 6.8 percent against the dollar over the past 12 months and foreign-exchange reserves are growing.

Not so fast.