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EZ/UK Bond Supply Calendar: UK Long APF Sales on Monday

Chance To Promote Petro-Yuan As China-Saudi Relations Deepen

CHINA PRESS

MNI (BEIJING)

The recent deepening of China and Saudi Arabia relations presents an opportunity to develop the petro-yuan, according to Yicai.com. The need for an alternative to petro-dollars has increased following sanctions imposed on Russia and many countries have been seeking alternatives for many years, the newspaper reported. China should promote the petro-yuan by opening up its futures market and increasing the scale of offshore yuan asset pools. The development of the petro-yuan would be an important catalyst for the internationalisation of the yuan, the paper said.

MNI Beijing Bureau | lewis.porylo@marketnews.com

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Chance To Promote Petro-Yuan As China-Saudi Relations Deepen

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