- Analysts see room for the yuan in global reserves, but others caution that capital controls and market depth still limit its rise.
- Since the 2015 devaluation, China has shifted to a more managed-market regime and broadened its tools to curb volatility without burning reserves.
- China is piloting e-CNY while weighing an RMB stablecoin, yet design, demand and regulatory trade-offs remain unclear.
- The CNY/CNH split and tight compliance rules help manage flows but also constrain international uptake of the currency.
China’s yuan is back in the spotlight como actores políticos, bancos y mercados evalúan su papel en las finanzas globales. Entre las ambiciones de reservas, un marco de tipo de cambio cada vez más refinado y experimentos con dinero digital, los próximos movimientos del renminbi están siendo objeto de un intenso escrutinio.
