Since May, the PBOC and the government have taken several steps including signaling that mainland investors could once again invest in offshore assets using the YUAN.

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Chinese yuan weakens to 6.4208 against USD Monday

The value of Chinese Yuan against USD rise continuously recently. China, in 2010, already surpassed Japan to become the world's second economy, never stop its steps to strengthen the Global Use of the Chinese YUAN in the World, whether it is regarded as a payments currency, or a reserve currency. It's true that only Chinese YUAN have the ability to take the place of USD in the world.

Until today, More than 60 countries have taken the Chinese YUAN as foreign exchange reserve, this will shake the position of USD in the International Monetary System.

Bundesbank (Germany Center Bank)  on the Monday has taken the Chinese YUAN as foreign exchange reserve, following the Bank of France. In 2016, Chinese YUAN has become the World's Sixth Payments Currency with the market share of 1.68%, and has been officially introduced in currency basket of International Monetary Fund Special Drawing Rights (SDR). And after recently the trade negotiations between China and the United States, China government plans to take “multiple steps” to protect technology and intellectual property from certain discriminatory and burdensome trade practices by China, including the Currency Chinese YUAN.

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Chinese yuan weakens to 6.4208 against USD Monday