Yuan Expands Global Trade Role as Foreign Firms Flock to Chinese Currency

June 14, 2026 — A sweeping new survey from the Bank of China reveals a seismic shift in global commerce: the yuan is rapidly cementing its status as a preferred transaction currency among foreign corporations. This surge in adoption, detailed in the study published amid Beijing's aggressive push to challenge dollar-dominated financial systems, signals a structural realignment in international trade. The data underscores that confidence in the yuan is no longer a matter of rhetoric but is being validated in real-world business decisions every day, as companies seek reliable alternatives to traditional financial circuits. This is not just a symbolic victory for China — it is a tangible, bullish indicator of the yuan's rising influence as a global reserve asset.

In brief

• A Bank of China survey reveals that 95 % of foreign companies plan to maintain or increase their use of the yuan in international settlements.
• The Chinese currency is gradually gaining ground in global trade, driven by growing confidence from economic actors.
• More and more foreign companies are holding yuan liquidity to support their activities with China.
• Beijing continues its strategy of internationalizing the yuan to make it a currency more used in trade, investment, and global finance.

Foreign companies strengthen their use of the yuan

The survey published by the Bank of China highlights a significant evolution of the yuan’s role in international trade. While geopolitical tensions and global trade reshuffling prompt many companies to diversify their payment tools, the Chinese currency appears as a payment method now preferred by a growing share of foreign economic players. The survey shows that this trend is no longer limited to a few ally or privileged countries of Beijing, but concerns a significant proportion of companies active in cross-border trade.

This progress is all the more remarkable as it occurs within a global economic environment marked by uncertainties. The yuan is now perceived by surveyed companies as the currency that can support them long-term in their commercial operations with China. Thus, the study conducted by the Bank of China provides a precise overview of the payment practices and financial management evolution of foreign companies operating with the world’s second-largest economy.

The main findings of the survey are as follows :

• 95 % of surveyed foreign companies plan to maintain or increase their use of the yuan in cross-border settlements ;
• 34.5 % anticipate an increase in their use of the Chinese currency ;
• 61.4 % plan to keep a stable level of usage ;
• Only 4.1% consider reducing their use of the yuan ;
• The study is based on responses from 3,501 companies, including 2,488 Chinese companies and 1,013 foreign companies.

The yuan is gradually establishing itself in international trade

Beyond the raw numbers of the survey, the results reflect a slow evolution in international trade practices. The use of the yuan is no longer limited to Chinese companies or their closest partners. More and more foreign actors seem to see the currency as a relevant tool for their transactions with the world’s second-largest economy. This trend is also found in the growing interest of companies to hold yuan liquidity themselves instead of converting all their money into other currencies.

Such a trend also reflects China’s economic weight, an influential member of the BRICS alliance, in global supply chains. For many companies, using the yuan can simplify some commercial operations related to imports, exports, or settlements with Chinese partners. Thus, Bank of China data show that the yuan is gradually gaining legitimacy as an operational currency in international trade. This growth demonstrates, without disrupting the global monetary balance in the short term, an expansion of the Chinese currency’s role in the daily activities of companies engaged in international trade.

Beijing pursues its ambition to make the yuan a global currency

These results fit into the very long-term strategy pursued by Chinese authorities. For several years, Beijing has launched numerous initiatives aimed at strengthening the international presence of the yuan and increasing its use in trade, investment, and financial markets. President Xi Jinping has repeatedly expressed this ambition, calling for the construction of a “strong currency” that could be “widely used in international trade, investment, and foreign exchange markets, and achieve reserve currency status”.

Thus, Pan Gongsheng, governor of the People’s Bank of China, also defends this direction. According to him, the internationalization of the yuan is “an essential component of China’s overall reform and opening-up process”. This statement shows how strategic the currency is in China’s economic development. The goal is not only to facilitate trade but also to strengthen the country’s financial influence internationally. Moreover, the development of cross-border payment systems in yuan and efforts to encourage the use of the currency abroad go in the same direction.

The survey published by the Bank of China therefore sheds concrete light on what has been achieved so far. The dollar remains dominant in international trade, financial markets, and central bank reserves. However, the data collected show that the yuan continues to gain ground with a growing number of foreign companies. This evolution is not enough alone to bring about a new global monetary order, but it shows that the Chinese currency is asserting itself in areas where its presence was until now limited.

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