President Xi Jinping has called for China’s yuan to become a global reserve currency, underscoring ambitions to carve out a greater role for it in world finance.
The country needed a “powerful currency” that could be “widely used in international trade, investment and foreign exchange markets, and attain reserve currency status”, Xi said in a commentary published on Saturday in Qiushi, the Communist Party’s ideology journal. The comments were first made in a 2024 speech to officials.
Xi spoke of…