China's Yuan Surpasses USD as Leading Cross Border Transaction Currency: Global Growth and Acceptance

The article, originally in Finnish, discusses the recent growth and global acceptance of the Chinese yuan as an international currency. It highlights how China's currency has surpassed the US dollar to become the most used cross-border transaction currency, specifically when SWIFT payments are considered.

1. Enhanced Structure:

   The structure could be made more hierarchical, with clearer headings for each segment of information. This would make it easier to navigate and understand the content at a glance.

2. Increased Detl:

   Provide specific figures or statistics where possible to enhance understanding. For example:

   • In May 2023, foreign investors held approximately $4 trillion in Chinese debt securities.

   • The issuance of Panda bonds rose by nearly 25 from the same period last year.

3. Rephrasing:

   To improve and professionalism:

   • International payments via SWIFT saw a remarkable increase as the yuan surpassed Japan's yen for the fourth spot in global currency usage at the of 2022.

   • The Stock Connect programs linking China's domestic stock and bond markets with Hong Kong have significantly increased foreign capital flows into China. As of May, foreign investors held nearly $4.5 trillion in Chinese debt securities.

4. Formatting:

   Ensure that all currency references are standardized e.g., use of '$', 'billion', 'trillion' consistently and clearly defined for the reader's understanding.

5. Integration of Key Findings:

   Summarize key findings at intervals or in a section to encapsulate the mn points succinctly, ding quick comprehension:

   • The increasing attractiveness of Panda bonds due to their lower interest rates compared to US dollar equivalents.

   • Central banks' reduction in yuan allocations within their foreign exchange reserves.

6. Citation and References:

   Add references or citations for any data that comes from external sources.

7. Editorial Language:

   Enhance the language by removing jargon where possible, or defining it when necessary to make the article accessible:

   • Panda bonds are a type of debt securities issued in China’s domestic market specifically targeted at foreign investors.

By following these guidelines, the article will be restructured and enhanced to provide clearer, more professional content that is both informative and engaging.
This article is reproduced from: https://www.bofit.fi/en/monitoring/weekly/2024/vw202428_1/

Please indicate when reprinting from: https://www.i477.com/foreign_exchange_RMB/China_Yuan_International_Currency_Growth.html