China is reconsidering its strategy for the internationalization of yuan after completing a comprehensive review recently, according to a senior central bank official.

“As everybody knows in the past, the internationalization of the RMB sticks to the market principles,” Zhu Jun, director general of the People’s Bank of China’s international division, said at the Bund Summit in Shanghai on Saturday. “The role of the authorities was mainly focused on removing the policy obstacles for the free use of the currency. At this moment, we think there are some kinds of complications in the domestic and overseas situations.”

The yuan rallied to the strongest in more than two years earlier this week, aided by dollar weakness and China’s economic recovery from the virus pandemic. The prospects of a victory by Joe Biden over President Donald Trump in the upcoming U.S. election are also supporting the currency. Trump’s trade war with China last year sent the currency to its lowest since 2008.