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More RMB internationalization moves by China; Sino-US trade deal in jeopardy

SinoInsight  1   On May 11, China Baowu Group, the largest state-owned iron and steel company in China, announced that it had successfully concluded a blockchain-supported yuan-denominated purchase (nearly 100 million yuan) with Australia’s Rio Tinto Group. Baowu’s blockchain technology is a type of digital letter of credit being circulated in specific industries, and is not …

Read moreMore RMB internationalization moves by China; Sino-US trade deal in jeopardy

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