Zhou expects RMB to account for one-third of global payments in 2020
PBoC governor outlines economic objectives over coming five years in sweeping op-ed
China is aiming to turn the renminbi into a bona-fide international reserve currency before 2020, the country's central bank governor Zhou Xiaochuan has said, in a sweeping article outlining Beijing's economic priorities over the next five years.
The "expectation", Zhou writes in the article, published on Chinese news site Caixin on November 9, is that "more than one-third" of international payments are made in renminbi at the start of the next decade.
The renminbi is currently the fifth most
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Currency
Stablecoins can bolster dollar’s international role, says Waller
Fed governor also warns against domestic and international regulatory fragmentation
Afghanistan to issue jail terms for large dollar transfers
Move to clamp down on illicit inflows comes as central bank struggles to prop up afghani
Trump’s tariff threats fuel corporate FX hedging revamp
Treasurers mull options and longer-dated hedges in face of mixed signals on extent and timing of measures
Libya to issue new banknotes
Central bank announces plan for five, 10 and 20 dinar bills amid continued cash shortage
Conflict casts doubt on viability of Sudan’s new banknotes
Concerns over regime’s stability may undermine its efforts to swap out old currency, says analyst
Vietnam and Laos launch local currency settlement framework
Central banks also set up cross-border QR payments link
PBoC suspends government bond purchases
China's central bank moves after “persistent excess demand” causes yields to hit record lows
PBoC to issue record amount of bills in Hong Kong
Central bank to auction 60 billion yuan of bills in territory amid weakening renminbi