China’s yuan a growing force in global finance – study

WASHINGTON, D.C.: China’s yuan is a growing force in global finance, more than doubling in use over the past year, according to a new study from the Institute of International Finance on Thursday (Friday in Manila).

Although its use in the international payments system remains dwarfed by the dollar and euro, the yuan, officially known as the renminbi, grew to 1.4 percent of total transactions.