Economics
Yuan Usage Is Losing Momentum Outside Asia, HSBC Survey Suggests
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The yuan’s rise in global trade is losing momentum and adoption outside of Asia-Pacific remains limited as complex rules deter companies, according to an annual survey by HSBC Holdings Plc.
The report highlights the challenge for China as it seeks to internationalize its currency and open up its capital markets. Premier Li Keqiang is pushing for the yuan to be added to the International Monetary Fund’s basket of four reserve currencies, aiding the nation’s attempts to contest the dollar’s dominance in global trade and finance.