JD.com and Ant Group are seeking to counter U.S. dollar dominance in cross-border trade as the yuan’s share in global payments fell to 2.89% in May 2025, while the dollar commanded 48.46%.

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The yuan’s share of global payments dropped to 2.89% in May, its lowest in nearly two years, while the dollar commands 48.46% market share through SWIFT payment systems.

The yuan's share as a global payment currency fell to 2.89% in May, the lowest in almost two years, according to payment platform SWIFT. The dollar commands a 48.46% market share.