Islamabad : Chinese President Xi Jinping has reaffirmed China’s long-term goal of turning the yuan into a global reserve currency, as part of a broader plan to build a strong financial system.According to South China Morning Post, Xi emphasized the need for a “strong currency” that is widely used in international trade, investment, and foreign exchange markets. The goal is to elevate the yuan’s global status alongside major currencies like the U.S. dollar.
The push comes amid global financial uncertainty and questions over dollar dominance. However, analysts note that the yuan still has a relatively small share of global reserves and faces challenges such as capital controls and limited convertibility.
China has been promoting yuan internationalization for years through trade settlements, financial systems, and partnerships, but experts say achieving full reserve currency status will take time.
