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


The recent deepening of China and Saudi Arabia relations presents an opportunity to develop the petro-yuan, according to 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 |
MNI Beijing Bureau |

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