Yuan overtakes dollar in China's cross-border payments

The Chinese currency was used in 48.4% of Beijing's international settlements, figures have shown

The yuan surpassed the US dollar to become the most-used currency in China's cross-border transactions last month, Reuters reported on Wednesday citing official data.

Cross-border payments and receipts in yuan surged from $434.5 billion in February to a record $549.9 billion in March, according