China’s Big Bet: Pushing the Yuan to Replace the Dollar Globally
China ramps up efforts to make the yuan a global currency, challenging dollar dominance.
China is stepping up efforts to globalize the yuan, aiming to reduce reliance on the U.S. dollar. The People’s Bank of China (PBOC) announced a plan to expand cross-border financial services, urging Chinese companies to use yuan in international payments and trade settlements.
This strategy has already shown results—yuan transactions hit $724.9 billion in March 2025, making up over half of China’s cross-border activity. It’s clear China wants the yuan to become a major global currency, not just a regional one.
For investors, this signals a possible shift in global economic power. If successful, it could affect currency markets, trade flows, and even crypto dynamics—especially stablecoins tied to fiat currencies.
While the U.S. dollar is still dominant, China’s move is worth watching closely.
