Yuan gains luster in intl financial settlements

The yuan's appeal regarding international financial settlements has grown consistently, according to data released by the Society for Worldwide Interbank Financial Telecommunication on Wednesday, The Wall Street Journal reported. In July, among the 158 countries that traded with the Chinese mainland and Hong Kong, 20 percent used the yuan for major payments, according to SWIFT. This has allowed the currency to rise from the 16th most used trade currency to the 15th over that period, and its market share increased from 0.43 percent in June to 0.45 percent in July. Settlements using the yuan between member countries of the Gulf Cooperation Council and the Chinese mainland and Hong Kong amounted to nearly 40 percent of the total. In Singapore the amount was more than 30 percent.

SENLINCHANGXIANG_DESIGN: Currently, the yuan and the US dollar maintain a close connection in exchange rates. The fluctuations in the dollar's value will affect the yuan's exchange rate directly, which is not good for maintaining steady economic growth.

ZUOWANGQINGSHAN: I intend to dispose of my yuan savings while the currency is appreciating.

HUIDAOQINDYNASTY: This is a nightmare for US dollars and for the United States as well but it marks the beginning of Chinese dreams. In the future, the conflicts associated with this issue will be the main battle between China and the US.

FULLGOALFUNDMANAGEMENTCOLTD: With the increasing attraction of the yuan in international settlements, the currency's status in global trade and investment will constantly be raised.

ALL THE INFORMATION IS FROM SINA WEIBO.