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Friday, 7 August 2026

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PREMIUMChinese Banks Expand Direct Settlement to Strengthen Yuan’s Global Role

By Chee Liang CFA3 min read

Beijing, 7 August 2026 – China is accelerating efforts to expand the yuan’s international use as domestic commercial banks introduce direct settlement and clearing for additional foreign currencies, reducing the need to route cross-border transactions through the US dollar.

At least six Chinese banks have added approximately a dozen currencies to their direct yuan-settlement services during 2026. The additions include the Thai baht, Brazilian real and Kazakhstan tenge, alongside other currencies used predominantly in emerging markets.

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Author

  • Chee Liang CFA specializes in financial advice and global economic trends, delivering clear insights to help readers navigate markets, investments, and the shifting dynamics of the world economy.