China plans more significant role for yuan, it may become No. 3 global currency by 2030, said analysts

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China’s monetary authorities are planning a more significant role for the yuan, encouraging cross-border flow of capital under the country's financial opening plan, supported by favourable domestic monetary conditions, said analysts.

Chinese policymakers may add a target of increasing the yuan’s share in global trade and reserves in the country's development plan for the next five years, to reduce the financial sector’s reliance on the US dollar, they said after the latest remarks of a senior central bank official.

Chen Yulu, vice-governor of the People’s Bank of . . .

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