Yuan's popularity continues to grow steadily, with reason

Marking the first time a new currency has been added since the inauguration of the euro in 1999, the International Monetary Fund's inclusion of the yuan into its special drawing rights basket two years ago was hailed by China as a "milestone" and "affirmation" of the country's financial reform and opening-up.

It also caused quite a stir, with some voicing misgivings that the country's incomplete capital account convertibility process would mean the yuan would fail to become a true international reserve currency, while others fearing that China's commitment to financial liberalization might falter after its currency was included into the SDR basket.

The increasing confidence of other countries in the use of yuan, the fast and steady rise in the yuan's share in global foreign exchange reserves and China's unswerving financial opening-up over the past two years, have proved such worries to be unfounded.