{"id":433664,"date":"2026-05-18T17:27:19","date_gmt":"2026-05-18T17:27:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/433664\/"},"modified":"2026-05-18T17:27:19","modified_gmt":"2026-05-18T17:27:19","slug":"as-chinas-yuan-emerges-as-a-global-currency-beijing-faces-a-balancing-act","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/433664\/","title":{"rendered":"As China\u2019s yuan emerges as a global currency, Beijing faces a balancing act"},"content":{"rendered":"

As the yuan\u2019s exchange rate hovers near a three-year high against the US dollar, an article by China\u2019s top foreign exchange regulator suggests that authorities remain focused on stability and risk control.<\/p>\n

Zhu Hexin, head of China\u2019s State Administration of Foreign Exchange, called for \u201ca more convenient, more open, more secure and more intelligent\u201d foreign exchange system in the article published in the Communist Party journal Qizhi.<\/p>\n

Regulators would seek to keep the yuan \u201cbasically stable at a reasonable equilibrium\u201d through a framework combining macroprudential management with market supervision, according to the commentary, which was originally published on April 22, but resurfaced on other feeds in recent days.<\/p>\n

Zhu also called for deeper capital-account opening and stronger monitoring of cross-border capital flows in the article, while pledging to improve foreign exchange hedging services to help companies manage currency risks.<\/p>\n

While the commentary was largely focused on China\u2019s long-term policy approach for the 2026-2030 period, the comments coincided with the yuan\u2019s rapid recent appreciation against the US dollar<\/a>. Beijing has long worried about a potential overshooting of the exchange rate, which could put pressure on the country\u2019s vast export sector.<\/p>\n

The comments also came as a report by the University of Hong Kong \u2013 which was co-authored by Zhu Min, a former deputy managing director of the International Monetary Fund \u2013 found that the yuan\u2019s share of the global foreign exchange market had significantly increased in recent years.<\/p>\n","protected":false},"excerpt":{"rendered":"As the yuan\u2019s exchange rate hovers near a three-year high against the US dollar, an article by China\u2019s…\n","protected":false},"author":2,"featured_media":433665,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[4177,138,222001,607,4444,25682,219,16456,4431,111,139,69,4421,222003,126274,222000,222004,5262,10130,222002],"class_list":["post-433664","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-beijing","tag-business","tag-capital-flows","tag-china","tag-chinese","tag-communist-party","tag-economy","tag-foreign-exchange","tag-hong-kong","tag-new-zealand","tag-newzealand","tag-nz","tag-peoples-bank-of-china","tag-qizhi","tag-state-administration-of-foreign-exchange","tag-tommie-fang","tag-ubs-china","tag-us-dollar","tag-yuan","tag-zhu-hexin"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/433664","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=433664"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/433664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/433665"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=433664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=433664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=433664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}