Xi wants yuan’s global punch to match Chinese economic might

President Xi Jinping has expressed China's desire for its currency, the yuan, to achieve global reserve currency status. In a commentary published in Qiushi, the Communist Party's ideology journal, Xi emphasized the need for a "powerful currency" to match China's economic strength. He stated that the yuan should be widely used in international trade, investment, and foreign exchange markets. These comments, originally made in a 2024 speech to officials, highlight China's ambition to increase the yuan's influence in global finance. The goal is for the yuan to become a significant player alongside other major reserve currencies. This push reflects China's broader aim to exert greater influence on the world stage.