China's yuan rises to fourth most active currency in global transactions

The Chinese yuan has emerged as the fourth most active currency for global payments, the country's central bank said on Tuesday.

Thanks to various measures taken by the central bank to facilitate cross-border use of Chinese yuan, cross-border yuan payments totaled about 64 trillion yuan (about 8.73 trillion U.S. dollars) in 2024, an increase of 23 percent year on year, Xuan Changneng, deputy governor of the People's Bank of China, told a press conference.

Various indicators of the international use of Chinese yuan have steadily improved, with the ability of cross-border yuan business to serve the real economy continuously enhanced, showed data from the central bank.

Over 80 overseas central banks and monetary authorities have included Chinese yuan in their foreign exchange reserves.

The balance of Hong Kong's offshore Chinese yuan deposits exceeded one trillion yuan, while the offshore Chinese yuan loan balance approached 700 billion yuan, both at historically high levels.

The PBOC will continue strengthening Chinese yuan's coordination with foreign currencies and facilitating yuan-based cross-border financing to create a favorable environment for domestic and foreign entities to hold and use the Chinese currency.

"We will support Shanghai in its efforts to build a global Chinese yuan financial asset allocation center and risk management center, and support yuan-based trade, financing, overseas loans, and the issuance of Chinese yuan bonds. We will improve the supply mechanism of offshore Chinese yuan liquidity, support the sound development of the offshore Chinese yuan market, and consolidate and enhance Hong Kong's status as an international financial center and offshore Chinese yuan business hub. We will improve the infrastructure facilities for cross-border use of Chinese yuan, rationally set up new Chinese yuan clearing banks, and continuously enhance the functions and services of the Chinese yuan cross-border payment system," Xuan said.

China's yuan rises to fourth most active currency in global transactions

A seven-month-old Bengal tiger cub at Shanghai Zoo has captured the hearts of zoogoers and internet users with its feathery fur and cheery personality after overcoming a challenging start in life.

Named Hong Tang, meaning brown sugar, the female cub has been charming visitors with her adorably round face, reddish-brown stripes, and endless playful antics.

"I came here just to see her today. When I see this tiger, I feel like I'm looking at a muscle man acting cute," said a zoo visitor.

"She's a hit on the internet. I saw that she has developed a personality, so I wanted to see her in person," said another visitor.

"She's so cute, just like a big kitty-cat. I would love to pet her," another visitor said.

The fluffy cub was born on August 10, 2024. Tragically, she was rejected by her mother, which would have been a death sentence in the wild. Thankfully, zoo staff were miraculously able to nurse her, bringing her into healthy adolescence.

"She has a lively personality and acts cute for you. Every time we enter, she will lie at the door with her little head sticking out and looking at us. She particularly likes to watch the two striped hyenas quarreling next door," said Jiang Wenting, a zookeeper and caretaker for the cub.

Hong Tang's favorite foods are chicken and beef, according to the zookeeper. 

"She is fluffy now. She loves chicken and beef. We also provide beef bones for her to bite," said Jiang.

At seven months old, the cub has reached the equivalent of eight or nine human years. Female tigers generally reach maturity at around three years old.

Tiger cub in Shanghai Zoo claws at heartstrings with struggle-to-stardom story