Apple has begun accepting payment in Chinese yuan for purchases in its online App Store, the company’s latest expansion in what has become a key growth market.
Will this change everything? Apple’s acceptance Chinese Yuan in its App Store may start the snowball effect of wide adoption of Chinese Yuan for international transactions. It does make sense for corporations with sizeable manufacturing done in China to transact in Chinese Yuan. With Apple’s acceptance, China may be one step closer to expanding trading of of its currency outside of mainland.
Read about this in WSJ.
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