The Chinese yuan continues to strengthen its position in global payment systems, according to the latest data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). In May, the yuan maintained its position as the fifth most active global payment currency, accounting for 2.54% of all transactions.
This represents a significant increase from April's 2.29% share, demonstrating the growing prominence of China's currency in international finance. The yuan's payment value surged by 20.38% month-over-month in May, far outpacing the 8.75% average growth across all currencies.
When measured by payments outside the eurozone, the yuan ranks sixth with a 1.51% share. However, analysts emphasize that the currency's consistent upward trajectory deserves attention. From January through April this year, the yuan's global payment share showed steady growth at 1.91%, 2.19%, 2.26%, and 2.29% respectively.
Financial experts suggest this sustained expansion reflects the gradual progress of yuan internationalization and increasing global demand for the currency in trade and investment activities. With China's ongoing economic development and continued market liberalization, the yuan's role in international payment systems is expected to further strengthen in coming years.