China's Yuan Ambitions: A Global Financial Powerhouse Takes Shape The People's Bank of China (PBOC) has long been a master strategist in financial markets.
Its latest moves to strengthen the yuan's global position are no surprise, given Beijing's consistent efforts to boost the currency's standing.
Deputy Governor Lu Lei's assertion that the internationalisation of the yuan is "irreversible" reflects this commitment. The trend towards de dollarisation is part of a broader shift in global finance.