Helped by digital yuan and advancements in financial tech, more yuan-backed transactions are taking place in crude settlement ...

The fact that China is now the world’s largest oil importer, as well as its leading trading and manufacturing economy, lends weight to its “petroyuan” and other initiatives to internationalize the ...

“While a petroyuan may gain ground, it is unlikely to fully supplant the petrodollar in the foreseeable future,” said the author, also a senior fellow at the Asia Society Policy Institute’s ...