According to an annual report released by the Official Monetary Financial Institutions Forum (OMFIF), a London-based think tank, 30% of central banks plan to increase their holdings of Chinese yuan in the next 12-24 months.

In stark contrast, 20 percent of central banks plan to reduce their holdings of the U.S. dollar in the next 12-24 months, and 18 percent plan to reduce their euro holdings in the same time frame.

According to a Reuters report, the Chinese yuan will become more influential in the global financial system as nearly one-third of central banks plan to include it in their reserve assets.

Survey results also show that 75% of central banks now believe that monetary policies have an outsized impact on financial markets, although only 42% believe these policies need to be reconsidered. The report also shows that only 59% of central banks are willing to use more than 30% of their reserves in the event of a severe monetary shock.

Since the epidemic, sharp fluctuations in the U.S. dollar exchange rate and related assets have worried many countries, and some have begun to reduce the dollar as a foreign exchange reserve.

The Russian Ministry of Finance announced this month that it had completed the restructuring of the National Welfare Fund's assets by completely removing the U.S. dollar, shrinking the proportion of British pounds to 5%, raising the proportion of euros and Chinese yuan to 39.7%, and 30.4%, respectively, and the ratio of Japanese yen to 4.7% and spot gold to 20.2%.

Japan has also been gradually reducing its holdings of U.S. bonds recently. The U.S. Treasury's International Capital Flows (TIC) report released last week showed that while Japan continued to rank as the largest overseas holder of U.S. Treasuries in May this year, its holdings of U.S. debt fell by $10.6 billion, returning to the downward trend seen since the beginning of the year, totaling $1.266 trillion. Japan's U.S. debt holdings have been declining in eight of the last ten months.