Where We Are with CNY Invoicing
2010-12-31 00:00:00KelvinLau
China’s foreign Trade 2010年11期
It ain't easy replacing the US dollar. Some see the Chinese yuan(CNY) as the imminent replacement of the US dollar (USD) as the world's dominant reserve currency. However， those involved in the CNY's first forays overseas as a means of invoicing and payment for cross-border trade have known from the start that this process will take some time. Nine months into the CNY trade settlement pilot scheme， this seems like a good time to report on the progress and ex-amine the outstanding challenges.
