China makes headway in turning yuan into global currency

02/13/2013 | Economist (tiered subscription model), The

China's careful but determined effort to make the yuan an important currency in global trade is delivering results, giving the yuan an increasingly bright future, according to The Economist. "China's currency has resumed its stately appreciation against the dollar, climbing by 2.5% since its July trough," the magazine notes. "Hong Kong's yuan deposits have grown steadily since September (although they have yet to regain their 2011 peak) and the [offshore yuan] is once again trading at a premium to its onshore cousin."

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Economist (tiered subscription model), The

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