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China's Policy Urges Halt on Stablecoins, Focus on Digital Yuan

China's policy reinforces the halt of stablecoins, focusing on digital yuan development for financial security. source:

CoinLive·
CoinLive·

Hua Xia state-linked Chinese bank tokenizes $600M in yuan bonds

The bond was auctioned off to holders of the digital yuan, a central bank digital currency (CBDC) developed by the Chinese government. source:

CoinLive·
CoinLive·

China state-owned banks soak up dollars to slow yuan gains, sources say

China's state-owned banks bought dollars in the onshore spot market to curb the yuan's strength, which hit a 14-month high. This move aims to tighten dollar liquidity and raise the cost of long yuan bets, moderating the yuan's rise. The People's Bank of China did not comment. The yuan has gained 3.3% against the dollar year-to-date.

Reuters·
Reuters·

Yuan nears 7 as US–China thaw lifts sentiment, but PBOC slows pace of appreciation

The yuan is nearing the 7-per-dollar level due to improved US-China relations and a softer dollar, but the PBOC is managing its appreciation pace. The onshore yuan reached its strongest level in over a year at 7.06, with the PBOC setting a strong daily fixing. Authorities aim for controlled appreciation, using weaker fixings and dollar purchases to slow the yuan's rise. Citigroup strategists and analysts emphasize a managed appreciation approach, prioritizing stability and gradual strengthening.

Investinglive·
Investinglive·

ROI-Rising yuan won't slow China's export boom: McGeever

China's yuan has appreciated 3% since April, yet exports continue to grow, defying expectations that a stronger currency would make goods less competitive. Despite economic challenges, China's export volumes have risen 40% since 2019. The yuan's real effective exchange rate is at its weakest in 15 years, allowing China to maintain competitiveness in global supply chains. Beijing's strategy of managed currency appreciation aims to ease trade tensions, while China's dominance in advanced sectors minimizes sensitivity to currency fluctuations.

Reuters·
Reuters·
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