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Finance

China's global yuan push makes inroads in Asia and Africa

Beijing's answer to SWIFT on track to sign up 1,000 participants this year

Despite China's push to globalize the yuan, the currency accounts for less than 2% of daily transactions on SWIFT.   © Reuters
KOJI OKUDA, Nikkei staff writer | China

TOKYO -- China's international yuan payment network is expected to reach 1,000 participants by the end of 2020, as Beijing aggressively woos new members in Asia and along its Belt and Road Initiative in a challenge to America's supremacy in global finance.

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