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Designation of Deutsche Bank as yuan-clearing bank in EU adds impetus to broader trade_我的网站
A | With Parasakthi inching closer to release, composer actor GV Prakash has offered a key update that shifts the spotlight squarely onto Sivakarthikeyan. The actor has lent his voice to Tharakku Tharakku, the fourth single from the film, a track GV Prakash describes as a rebel anthem. The announcement, shared with a photograph featuring Sivakarthikeyan and director Sudha Kongara, has quickly become one of the most talked about developments surrounding the project.While Sivakarthikeyan has sung in films before, his decision to voice a song in Parasakthi feels particularly deliberate given the film’s political and historical setting. Rather than functioning as a novelty, Tharakku Tharakku appears positioned as an extension of his character’s inner voice, one that aligns performance, ideology, and music.When the lead becomes the voiceParasakthi is set in the nineteen sixties and draws from the Anti-Hindi agitations that swept Tamil Nadu in 1965. Within this context, Sivakarthikeyan singing a rebel anthem adds narrative weight to the soundtrack. It suggests a song that is meant to belong to the character rather than sit outside the story as a standalone musical moment.GV Prakash has already shaped a varied musical landscape for the film. The earlier singles Adi Alaye, Ratnamala, and Namakkana Kaalam explored romance, emotion, and collective aspiration. Tharakku Tharakku, however, seems designed to cut sharper, both musically and thematically. Described as a rebel anthem, the track is expected to channel resistance, urgency, and defiance, qualities that mirror the political climate the film revisits. #SK sings for #parasakthi the rebel song #tharakkutharakku @Siva_Kartikeyan @Sudha_Kongara @DawnPicturesOff pic.twitter.com/1TZ6Yp7Ooa — G.V.Prakash Kumar (@gvprakash) December 15, 2025 Sivakarthikeyan’s vocal presence also reinforces his evolving image as an actor who increasingly gravitates toward roles rooted in social consciousness. Singing the song himself blurs the line between performer and protagonist, allowing the music to function as a direct emotional conduit rather than a decorative addition.A politically charged ensemble dramaDirected by Sudha Kongara, Parasakthi marks her fourth feature after Drohi, Irudhi Suttru, and Soorarai Pottru. Known for her ability to blend strong character arcs with larger socio-political themes, Sudha appears to be using music as an integral storytelling tool rather than a pause in the narrative. She has co-written the film with Arjun Nadesan, with additional screenplay by Ganeshaa and dialogues by Madhan Karky and Shan Karuppusamy.The film is headlined by Sivakarthikeyan and features Ravi Mohan in what is said to be the first antagonist role of his career. Atharvaa plays a key part, while Sreeleela makes her Tamil cinema debut as the female lead. There has also been speculation about Rana Daggubati’s involvement, though the makers are yet to confirm his casting. Details about the characters remain under wraps, adding to the sense of anticipation. The technical team includes Ravi K Chandran as cinematographer, Sathish Surya as editor, S Annadurai as art director, and Supreme Sundar as action choreographer. Produced by Aakash Baskaran under the Dawn Pictures banner, the film has Dev Ramnath as creative producer, with MP Senthel and Rhea Kongara serving as executive producers. Red Giant Movies is handling distribution.With postproduction in full swing and a theatrical release locked for January 14, 2026, Parasakthi is shaping up as one of the most ambitious Tamil films on the horizon. As anticipation grows, Tharakku Tharakku stands out not just as another single, but as a moment where Sivakarthikeyan’s voice becomes central to the film’s political and emotional core.Also Read: AR Murugadoss Spills Details About Sivakarthikeyan’s Madharasi。
The designation of Deutsche Bank, a key and influential bank in Europe, to serve as the yuan-clearing bank will greatly facilitate and expand the use of the yuan in the EU market, providing more impetus to broader China-EU economic and trade ties, a Chinese analyst said on Tuesday.
The People's Bank of China (PBC), the central bank, announced on Monday that it had decided to authorize Deutsche Bank to serve as the yuan-clearing bank in Frankfurt, Germany, based on a memorandum of understanding with the Deutsche Bundesbank.
The move came as China-EU trade and economic ties continue to deepen and bilateral trade continues to expand, despite recent restrictions imposed by the European Commission.
In a statement sent to the Global Times on Monday, Deutsche Bank said that following the appointment by the PBC, it will facilitate direct end-to-end processing, clearing and settlement services for cross-border yuan transactions for European financial institutions and businesses, acting as a local bridge to China's payment systems.
Deutsche Bank, a global systemically important bank as well as the world's largest euro-clearing bank, said that it is the first foreign bank in Europe to receive this designation.
"Securing yuan-clearing capability in Europe reinforces our role as a trusted global clearing partner and our long-standing support for yuan internationalization. It strengthens China-Europe financial connectivity and enhances our ability to support clients' cross-border trade and investment flows with greater choice and flexibility," Alexander von zur Muehlen, CEO of Asia Pacific, Europe, Middle East & Africa and Germany at Deutsche Bank, said in the statement.
Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times on Tuesday that while a number of Chinese banks are already performing yuan-clearing functions in the EU, the addition of Deutsche Bank, with its deep roots in the local market, carries great significance.
"Banks have different client bases, and Deutsche Bank has many European companies as its customers. With the appointment, these market participants enjoy a far greater degree of facilitation and ease in tapping yuan use cases," said the professor.
Companies and financial institutions can also avoid risks of foreign exchange losses as they can now directly choose yuan-euro settlement and bypass the use of a third currency, the expert said, noting that China-EU trade and investment ties will be one step closer with a local clearing bank coming onboard.
Tian Lihui, dean of the Institute of Financial Development at Nankai University, told the Global Times on Tuesday that the latest development, some 12 years after the first-yuan clearing bank form a Chinese bank was set up in Frankfurt, marked a milestone as the yuan-clearing system in Europe has evolved from a model where "Chinese entities handle clearing for Europeans" to one where "Europeans handle yuan-clearing themselves."
The decision by one of Europe's largest domestic banks to integrate into the yuan-clearing system signals that China-Europe financial cooperation is moving beyond the shallow level of facilitating trade settlements into the more substantial level of jointly building financial infrastructure, Tian said.
For both China and Europe, this move represents a mutually beneficial institutional alignment, Tian said. "China gains greater depth in the offshore yuan market, while Europe secures an additional strategic option amid the contest of major currencies."
Brussels has recently been intensifying its use of restrictive trade and regulatory tools across sectors ranging from clean technologies to digital infrastructure and foreign subsidies, with many of these measures seen as directly affecting Chinese firms and adding strain to China-EU economic relations.
However, despite these moves, deepening industrial and supply chain integration and the strong complementarity of the two economies have continued to push bilateral trade to new highs. In the first seven months of 2026, China's total trade with the EU stood at 3.67 trillion yuan ($543.90 billion), up 9.5 percent year-on-year, data from China's General Administration of Customs showed on Friday.
As China-EU economic and trade ties continue to expand and deepen, demand for the yuan to be used in the EU market will rise proportionately, and more EU banks will likely be authorized to serve as yuan-clearing banks, Xi Junyang said.
Financial cooperation between the world's largest trading bloc and the largest trading nation has accelerated in recent months. In May, the PBC renewed and expanded a bilateral currency swap agreement with the National Bank of Serbia, increasing the value of the swap from 1.5 billion yuan to 5 billion yuan.
Almost 80 percent of the surveyed Chinese companies operating in the EU plan to expand their investment, even amid tightening policies in the EU and an increasingly complex business environment, according to a report published by the Chinese Chamber of Commerce to the EU and the China Economic Information Service in March. Fostering cooperation in emerging industries and cross-border finance have been highlighted by industry insiders as new growth drivers of China-EU trade and economic cooperation.
The yuan accounted for 3.1 percent of global payments in June, rising from 2.75 percent in the previous month, and ranking as the fifth most active currency for global payments by value, according to a report from the Society for Worldwide Interbank Financial Telecommunication. In terms of trade finance, the yuan ranked second with a market share of 8 percent.
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