Stop spreading fake news. China is not realising a new currency, rather they are introducing a new Yuan Gold Benchmark for Gold Prices. In simple terms China is going to Fix price of Gold in terms of Yuan and not Dollar. As the worlds largest importer of Gold they are flexing their muscle. But as long as the currency is not allowed to float freely, it will not be able to replace the US Dollar for the time being. http://www.reuters.com/article/china-gold-fix-idUSL3N17G1Z5 From this article in Reuters No wonder Yuan is not the preferred Currency. Even PRC quotes it's Forex Reserves in terms of Dollars and that speaks volumes.