More Korean firms pressed to make import payments in Chinese yuan - The Korea Times
More Korean firms pressed to make import payments in Chinese yuan - The Korea Times
www.koreatimes.co.kr More Korean firms pressed to make import payments in Chinese yuan - The Korea Times
Korean companies are increasingly being pressed to make payments in Chinese yuan when importing goods from China, as Beijing exerts increasing influence in global trade and seeks to undermine the domi...
- Accordingly, the total value of yuan-based import payments reached $19.5 billion in 2024, marking a nearly eightfold increase from $2.5 billion in 2014.
- The findings came as the yuan has overtaken the euro as the world’s second most-widely used currency after the dollar.