While the BRICS alliance has cooled down on pushing local currencies for global trade, China is doing the opposite and is aggressively pursuing various means to promote the Chinese yuan…
The People’s Bank of China’s (PBOC) Governor Pan Gongsheng announced on Tuesday that the country is pursuing the internationalization of the Chinese yuan. The BRICS member aims to simplify the…
China is going beyond BRICS as Chinese mining firms operating in Zambia are paying taxes in the African country in the yuan and not the US dollar. The Zambian government…
BRICS member Russia has sold its first Chinese yuan-denominated bonds on Wednesday, reported the Financial Times. Reports suggest that Russia is selling the bonds to fund the war against Ukraine…
The Chinese yuan is taking a larger role in the global markets and is slowly becoming an alternative to the US dollar. The new BRICS member, Indonesia, has announced that…
BRICS member Russia announced on Thursday that it plans to float the first Chinese yuan bonds in December. The Russian Finance Ministry said that the government is planning to issue…
BRICS members China and Russia’s trade payments have experienced a drastic shift since 2022 after the White House imposed sanctions for invading Ukraine, and since then, the two countries have…
BRICS member China has pressed the accelerator on de-dollarization as lending in the Chinese yuan surges. China’s push for the yuan is working as trade and investments are moving away…
Chinese banks have helped clients offload overseas currencies worth $51.8 billion, the highest since 2020. BRICS member China is at the forefront of the US dollar sell-off, as optimism grows…
BRICS member Ethiopia is in talks with China to convert its $5.38 billion worth of loans from the US dollar into the Chinese yuan. Ethiopia owes China $5.38 billion and…