Caixin Summit: Yuan Wins More Overseas Favor as Financing Currency Due to Lower Costs, Economist Says

What’s new: The yuan is seeing increasing endorsement from overseas businesses as a financing currency, partly due to its lower costs, according to Becky Liu, head of China macro strategy at Standard Chartered Bank.

Speaking at the Caixin Summit on Friday, Liu predicted that the yuan will continue to be a low-interest currency until the end of next year. This is in stark contrast to the high interest rates in developed economies.