Former PBOC adviser Liu Shijin calls on China to lift imports and expand yuan use in trade over next five years

Former People’s Bank of China monetary policy adviser Liu Shijin has urged China to increase imports and settle more foreign trade in yuan over the next five years to narrow its trade surplus and boost offshore yuan liquidity. He also called for more yuan-denominated financial products to be launched in overseas markets, according to his recent remarks. At the same time, China’s top leadership has outlined plans to prioritize domestic demand from 2026. The comments come as the European Union, led by French President Emmanuel Macron, signals the possibility of strong measures over trade imbalances.