As de-dollarisation trends persist, can the yuan take the euro’s place?

South China Morning Post

South China Morning Post

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June 10, 2026

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lean left
As de-dollarisation trends persist, can the yuan take the euro’s place?

In early April, hours after US President Donald Trump threatened to bomb Iran “back to the Stone Ages” in a prime-time address, China’s yuan-denominated cross-border payment system set a record for transaction volume in a single day. The Cross-Border Interbank Payment System (CIPS) skyrocketed to 1.22 trillion yuan (US180.3 billion) on April 2, almost doubling the daily average volume in February. The spike occurred as more oil-producing nations rapidly scaled up their share of yuan settlements...

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This article was published by South China Morning Post, a source frequently categorized with a lean left bias based in Hong Kong. Our narrative intelligence engine continuously monitors coverage from this outlet to track framing, bias, and rhetorical patterns. Our initial algorithmic scan of this specific piece did not flag high-confidence rhetorical techniques, suggesting a generally straightforward reporting style or neutral framing. By understanding the editorial perspective of South China Morning Post, readers can better contextualize the information presented and compare it across our broader media matrix to find the real narrative.

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