Strong growth need to promote the Yuan internationalization – China Press
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Citing a former senior State Administration of Foreign Exchange official Guan Tao, Shanghai Securities News reports, “China needs to ensure a strong domestic economy, improve financial supervision, and reform institutional opening-up to promote the long-term international use of the yuan.”
“The yuan is increasing its standing as a major international currency due to its market-oriented exchange rate and recent resilient performance.”
“The use of the yuan in global foreign exchange reserves is set to surpass sterling and the yen due to relaxed restrictions on outbound investment in the yuan bond market.”
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