Latest News:  
Beijing   Sunny/Overcast    28 / 16 ℃  City Forecast

Home>>China Business

Yuan gains ground in trade financing

(Global Times)

08:09, May 30, 2012

As of April, the yuan has become the third most widely used currency in the trade financing market, according to a report released Tuesday by SWIFT, a financial messaging services provider.

The yuan is now used as an issuing currency in 4 percent of the letters of credit extended in the global financing market; after the US dollar and the euro, which are used 84.4 percent and 7 percent of the time in credit letters.

But, despite this impressive achievement, the yuan still lags behind as a payment currency in the global market.

As of last month, the renminbi was only the world's 16th most popular payment currency, according to SWIFT's findings.

Email|Print|Comments(Editor:厉振羽、姚春)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Hollywood stuntmen stage trick cycling performance

  2. Miss Bikini International Henan Division crowned

  3. Charm of Chinese gown

  4. Infantrymen in contest

Most Popular

Opinions

  1. Construction boom could hinder economic growth
  2. Much-needed cooling awaits China
  3. Why is Washington so scared of Confucius?
  4. Chance to peacefuly resolve Iranian nuclear issue
  5. What is the US' aim behind arms sales to Taiwan?
  6. Investment-driven growth no longer a viable option
  7. Summit can't stop NATO from being marginalized
  8. Easing liquidity not a cure-all
  9. As Beijing remains mum, trade relationships suffer
  10. Intentions behind Japanese right-wingers’ collusion with ‘World Uyghur Congress’

What's happening in China

More men say 'I do' to mail-order Vietnamese women

  1. Construction stocks soar on policy move
  2. Foreigners provided easier residence registration
  3. Police detain 2 after deadly kindergarten fire
  4. Credit rating stays despite slowdown
  5. Ancient shipwrecks unearthed in waterway

China Features

  1. Maritime spat between China and DPRK
  2. The 24 solar terms
  3. High ticket prices, unaffordable landscapes
  4. Huangyan tensions
  5. 2012 Russia-China joint naval exercise

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai