China wants the world to use its currency and has presented a plan for it.

Written by Romário Pereira de Carvalho

Published on 18/06/2026 at 14:16

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People’s Bank of China creates mechanism to offer yuan liquidity to foreign authorities, prepares offshore exchange pilot in Shanghai and evaluates adjustments in short-term rate regulation

Chinese authorities announced this Wednesday (17) new measures to expand the use of the yuan abroad, strengthen the country’s financial infrastructure, and reduce the Chinese economy’s exposure to external shocks. The announcement was made by Pan Gongsheng, president of the PBOC, the People’s Bank of China.

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New mechanism will provide yuan liquidity to foreign authorities

Pan reported that a repurchase mechanism will be created to allow foreign monetary authorities, including sovereign funds, to obtain liquidity in yuan directly from the Chinese central bank.

Under the announced model, these institutions will be able to use securities as collateral. The measure expands the instruments available for international operations linked to the Chinese currency.

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Shanghai will have an offshore exchange pilot

The head of the PBOC also announced a pilot program for offshore yuan exchange trading in the Shanghai Free Trade Zone.

The initiative seeks to strengthen Shanghai as a global center for asset allocation and risk management denominated in yuan.

China wants to expand the use of the Yuan and presents plan — Image: Illustration

Central bank targets adjustments in monetary policy

Pan stated that the PBOC will adopt measures to improve the regulation of short-term interest rates. The initiatives indicate a possible greater use of the overnight rate as a reference, although the current main reference is the seven-day reverse repo.

The PBOC is also preparing tools to provide emergency liquidity to non-bank institutions during crises.

The speech, however, did not indicate monetary easing, despite weak indicators released the day before.

This article was prepared based on information from the provided base material, with data, numbers, and statements preserved as per the consulted material.

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China wants the world to use its currency and has presented a plan for it.

People’s Bank of China creates mechanism to offer yuan liquidity to foreign authorities, prepares offshore exchange pilot in Shanghai and evaluates adjustments in short-term rate regulation

New mechanism will provide yuan liquidity to foreign authorities

Shanghai will have an offshore exchange pilot

Central bank targets adjustments in monetary policy

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China wants the world to use its currency and has presented a plan for it.

People’s Bank of China creates mechanism to offer yuan liquidity to foreign authorities, prepares offshore exchange pilot in Shanghai and evaluates adjustments in short-term rate regulation

New mechanism will provide yuan liquidity to foreign authorities

Shanghai will have an offshore exchange pilot

Central bank targets adjustments in monetary policy

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He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

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