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BEIJING, Oct 23 (APP): In September, the yuan’s share in global payments reached 3.17 percent, up from the previous 2.93 percent, according to SWIFT data released on Thursday. This marks continued progress in yuan internationalization, in line with a growing adoption of yuan in cross-border transactions amid global economic transitioning, analysts said.
A recent report released by the Bank for International Settlements (BIS) confirmed the yuan’s status as the world’s fifth-largest trading currency, with global transaction share of 8.5 percent, up 1.5 percentage points from 2022, the largest rise among all currencies.
Meanwhile, some other recent research reports have similarly highlighted the notable growth of yuan usage in cross-border trade settlements and trade financing between 2024 and 2025.
This trend has been noticed by Chinese exporters, who told the Global Times at the ongoing 138th Canton Fair that an increasing number of overseas customers, especially those from emerging markets such as Southeast Asia, Central Asia and Africa, are actively requesting to settle their trade in yuan.