Malaysia Enters Digital Yuan Era as China Makes Historic Payment

The movement towards dedollarisation has gained momentum in recent years as countries strive to reduce their dependence on the US dollar. In Malaysia, this topic has once again come into focus following a significant development. China has made its first outbound digital yuan payment to Malaysia for a shipment of fresh durian worth 43,000 yuan (approximately RM26,000).

This transaction marks a notable step towards reducing reliance on the US dollar and promoting the use of alternative currencies. The move is part of China's efforts to internationalise its currency and increase its global influence.