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Analysts: Yuan's Global Payment Role Underestimated, Rising Fast

4/7/2026

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Summary

Story summary

Analysts say traditional metrics understate the yuan's role in global payments.
Xu Tianchen, a senior economist, notes that transactions are increasingly processed through China's cross-border payment system and Swift may not reflect international payments.
The People's Bank of China says the yuan is the third-largest payment currency and Swift data place it between the fourth and sixth with a 2.74% share as of February 2025.

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Story summary

Analysts say traditional metrics understate the yuan's role in global payments.
Xu Tianchen, a senior economist, notes that transactions are increasingly processed through China's cross-border payment system and Swift may not reflect international payments.
The People's Bank of China says the yuan is the third-largest payment currency and Swift data place it between the fourth and sixth with a 2.74% share as of February 2025.