In the course of Russia’s efforts to de-dollarize, the share of the Chinese yuan in bilateral trade between China and Russia has increased significantly. In the wake of Russia’s de-dollarization efforts, the share of the Chinese yuan in bilateral trade between China and Russia has increased from 3.1 percent in 2014 to 17.5 percent in … Read more
Jakarta, CNN Indonesia — Bank Indonesia say RI and China will use the payment scheme local currency settlement (LCS) starting in the third quarter of 2021 or next July. This means that the settlement of bilateral transactions between Indonesia and China will use the local currencies of the two countries or no longer use the … Read more
Jakarta, CNBC Indonesia – China is now trying to control its currency, the yuan, or the renminbi which surged to its highest level in 3 years against the United States (US) dollar. A stronger yuan makes Chinese goods relatively expensive for overseas buyers. The result sparked concerns about the competitiveness of China’s exports, which are … Read more
China is exploring ways to use the digital yuan for cross-border transactions to meet market needs, the central bank said Thursday. The People’s Bank of China (PBOC) is cooperating with the Hong Kong Monetary Authority (HKMA) in technical testing of the digital yuan for cross-border payments in mainland China and the special region, said Wang … Read more
Jakarta, CNBC Indonesia – China seems to be increasingly striving to increase the flexibility of the yuan currency. Even China has continued to reduce restrictions on the use of the cross-border Yuan. This was disclosed by the Governor of the country’s Central Bank, Yi Gang, as quoted from CNBC International. He said this step would … Read more
Jakarta – Bank Indonesia (BI) and China have agreed to form a cooperation framework to encourage the use of local currencies in the settlement of bilateral trade transactions and direct investment (local currency settlement). This agreement was made by BI Governor Perry Warjiyo and Governor of the People’s Bank of China (PBoC) Yi Gang. In … Read more