RMB closer to international currency status
Source: Time Of Issue:2017-09-22 Browse:1803
Exchange rate stability, nation's reserve growth signs of yuan maturity
With the exchange rate of the renminbi steadily rising, and the Belt and Road Initiative furthering Chinese investment overseas, China is approaching the day when it can promote the internationalization of its currency, said an adviser to the People's Bank of China.
Sheng Songcheng, a central bank adviser, said renminbi internationalization is China's long-term strategic objective, and now it is mature enough to promote that goal.
"The renminbi exchange rate is steady and going up and the nation's foreign exchange reserve climbed for seven months, and the Belt and Road Initiative is welcomed by foreign countries, so I believe we are at the golden time to promote renminbi internationalization," Sheng said.