The yuan has capital controls. You can't move money freely in and out of China e...

dtech · on March 25, 2023

For now. China has been actively working on making the yuan a world reserve currency [1], including relaxing the controls if it is adventageous.

refurb · on March 25, 2023

That would require a wholesale change in the way the Chinese government wields it power.

Money flees China now despite the capital controls.

Even the Chinese would rather keep their money in Singapore, Switzerland or the US than at home.