Chinese leader Xi Jinping has called for the Chinese yuan to achieve the status of a global reserve currency. This was reported by the Financial Times, according to UNN.
Details
It is noted that Beijing has long sought to internationalize the yuan, but such comments are the clearest definition of Xi's goal - to create a "strong currency" and a broader financial foundation that Beijing will need to build to support it. According to him, China must create a "powerful currency" that is widely used in international trade, investment, and foreign exchange markets, and also gain reserve currency status.
Beijing wants the yuan to become a serious global currency - not necessarily to replace the dollar overnight, but to become a strategic counterweight that limits US influence in a fractured global financial order.
The publication indicates that Xi's call reflects Beijing's long-term strategy to strengthen its influence in the global economy, especially against the backdrop of signs of a weakening US dollar and a change in leadership at the Federal Reserve, which is prompting other central banks to review their currency portfolios and the risks associated with dollar assets.
For reference
According to the IMF, as of the third quarter of 2025, the dollar's share in global reserves was about 57%, compared to 71% in 2000, and the euro's share was approximately 20%.
Recall
Recently, Donald Trump called the dollar's fall a "great" result for American business and exports. After his statements, the dollar index fell by 1.2%, reaching its lowest level since February 2022.