Sure, it could be treated as such. If such small and IMO insignificant currency as yen can be one, why not yuan?
Let me remind you that it is used by 10 times more people than yen.
yen insignificant? I don't know where You live but I'm certain that You have something from Japanese manufacturer in Your house. TV, phone, car maybe, Japanese companies are known world wide.
From Wikipedia:
"The economy of Japan is the third largest in the world by nominal GDP, the fourth largest by purchasing power parity and is the world's second largest developed economy. According to the International Monetary Fund, the country's per capita GDP (PPP) was at $36,899 or the 22nd highest in 2013"
Yen insignificant? Yeah right...