Yuan Funding Hits Record $200 Billion as China’s Ambitions Grow

Yuan financing has never been as popular as it is now, with more countries and foreign companies tapping the market, in a sign that China’s ambition to internationalize its currency is bearing fruit.

Bonds, either sold within China by overseas entities or issued elsewhere, raised a record 218 billion yuan ($31.6 billion) already this year, as the Indonesian government and Wall Street’s Morgan Stanley joined the binge. That adds to the equivalent of $167 billion borrowed via notes and loans in 2025, a tripling in just five years.