Yuan’s Steady Rise Draws Foreign Investors Back to Chinese Assets

The yuan’s steady climb toward a four-year high is drawing more foreign money into Chinese assets and strengthening Beijing’s push to expand the currency’s global use.

The onshore yuan opened stronger than 6.70 against the dollar Thursday for the first time in four years, after briefly touching 6.69 in the previous session. It closed at 6.7062, despite a weaker-than-expected fixing by the People’s Bank of China.