De-dollarization: Yuan tops USD for first time in Chinese cross-border transactions

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De-dollarization: Yuan tops USD for first time in Chinese cross-border transactions
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The dollar falls behind the yuan for the first time in Chinese cross-border transactions

For the first time ever, the yuan has eclipsed the US dollar as the most used currency for Chinese cross-border transactions.

. The reversal comes amid China's efforts to empower the yuan, also known as the renminbi, in trade and capital markets.

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