{"id":371453,"date":"2026-04-09T16:13:14","date_gmt":"2026-04-09T16:13:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/371453\/"},"modified":"2026-04-09T16:13:14","modified_gmt":"2026-04-09T16:13:14","slug":"chinas-yuan-settlements-hit-record-and-the-iran-conflict-is-looking-like-a-catalyst","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/371453\/","title":{"rendered":"China\u2019s yuan settlements hit record, and the Iran conflict is looking like a catalyst"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Rising demand for yuan settlement amid Middle East tensions is driving record transaction amounts in China\u2019s cross-border payment system, analysts said, building on years of efforts to bolster financial infrastructure and expand its global network.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cThe Middle East conflict may have acted as a catalyst,\u201d said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered, citing rising demand for yuan settlement, particularly in oil trade.<\/p>\n<p>China\u2019s <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/cross-border-interbank-payment-system-cips?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">Cross-border Interbank Payment System<\/a> (CIPS) recently saw its single-day transaction value reach a record high of 1.22 trillion yuan (US$178.5 billion), with nearly 42,000 transactions processed, according to the state-owned Shanghai Securities News on Thursday.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The surge follows strong momentum in March, when the system\u2019s average daily transaction value climbed to 920.45 billion yuan \u2013 the highest level in a year and a nearly 50 per cent rise from February\u2019s 619.74 billion yuan. Average daily transaction volume also rose to 35,740, up sharply from 25,930 in February.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Ding added that the recent rise has also been supported by the yuan\u2019s relative stability, China\u2019s investment in cross-border payment infrastructure, and a growing number of CIPS participants.<\/p>\n<p>In the longer run, an expanding yuan-payment network will also support the [currency\u2019s] adoptionXu Tianchen, Economist Intelligence Unit<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The yuan has been on a steady upwards trajectory in recent months; as of the noon session on Thursday, the offshore yuan was trading at around 6.834 against the US dollar. A lower yuan exchange-rate figure indicates a stronger Chinese currency, as it takes fewer yuan to purchase one dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"Rising demand for yuan settlement amid Middle East tensions is driving record transaction amounts in China\u2019s cross-border payment&hellip;\n","protected":false},"author":2,"featured_media":371454,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[4177,138,607,192460,123097,68859,37553,219,5107,111,139,69,181736,10298,5262,117231,10130],"class_list":{"0":"post-371453","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-beijing","9":"tag-business","10":"tag-china","11":"tag-chinas-cross-border-interbank-payment-system","12":"tag-cips","13":"tag-ding-shuang","14":"tag-economist-intelligence-unit","15":"tag-economy","16":"tag-middle-east","17":"tag-new-zealand","18":"tag-newzealand","19":"tag-nz","20":"tag-shanghai-securities-news","21":"tag-standard-chartered","22":"tag-us-dollar","23":"tag-xu-tianchen","24":"tag-yuan"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/371453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=371453"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/371453\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/371454"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=371453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=371453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=371453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}