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China's yuan is steadily advancing its status as a global currency, surpassing a three percent share milestone in international payments, according to a central bank official.
Yuan settlements reached 24 percent of the country's trade in goods in the January-July period, China Daily newspaper reported, quoting Jin Zhongxia, head of the International Department of the People's Bank of China.
Furthermore, overseas entities allocated 9.8 trillion yuan ($1.34 trillion) worth of assets by the end of June, he added
The currency currently ranks as the fifth-biggest currency for foreign reserves, payments and transactions, as well as the third-largest trade financing currency, Jin said.
(Writing by P Deol; Editing by Anoop Menon)
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