国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Make me your Homepage
left corner left corner
China Daily Website

China continues promoting RMB use globally in 2013

Updated: 2013-12-25 15:07
( Xinhua)

BEIJING - In 2013, China continued to promote the internationalization of the yuan, or renminbi, with media and analysts buzzing about the effect of recent reforms on the increasingly global currency.

The country made progress in facilitating RMB-denominated international trade and investment, developing RMB offshore businesses, and establishing more currency swap lines and other financial agreements.

Financial reform measures announced in the last two months by China, especially a 30-point guideline issued by the central bank to support the country's first free trade zone in Shanghai, are set to help speed up RMB internationalization.

Media outlets worldwide hyped the news that the RMB had overtaken the euro and become the second-most used currency in global trade finance. Of much more significance, however, are figures related to actual trade settlement in yuan.

According to global transaction services organization SWIFT, the RMB remained the 12th payments currency in the world, with a mere 0.84 percent share of all global payments in October, even lower than the Thai baht and Swedish krona.

In comparison, the US dollar and the euro accounted for 38.1 percent and 34.7 percent of all global payments, respectively, followed by 9.9 percent for the British pound.

China is the world's second-largest economy after the US It is the world's largest exporter and second-largest importer of goods. The international use of the RMB is not at all commensurate with the importance of China's economic status.

Progress in 2013

The internationalization of the Renminbi, by definition, is the process of promoting its use outside of the Chinese mainland.

According to HSBC chief China economist Qu Hongbin, an internationalized currency means a currency that is widely accepted for investment, as a financing and payment vehicle and as a reserve, intervention and anchor currency in all countries across the world.

Sovereign currencies usually enter the global market only after the opening of the country's capital account.

However, China has been trying to introduce the RMB into the global market in an unprecedented fashion. It has been pushing the RMB into the overseas market through cross-border trade settlement since June of 2009, as its capital account is largely closed.

Since 2009, China has promoted RMB internationalization with a three-pronged approach: facilitating international trade and investment denominated and settled in RMB, encouraging offshore RMB services centers to develop offshore RMB-denominated financial products, and encouraging central banks to hold RMB as part of their foreign exchange reserves.

Previous Page 1 2 3 Next Page

 
 
...
故城县| 娄烦县| 华宁县| 图木舒克市| 尼木县| 丹凤县| 阿坝县| 常德市| 新乡县| 常州市| 乐东| 宾川县| 普定县| 天门市| 南昌市| 凤城市| 商南县| 南岸区| 栖霞市| 藁城市| 班戈县| 乐陵市| 赞皇县| 长宁县| 邳州市| 祥云县| 武义县| 皮山县| 鱼台县| 呼和浩特市| 会宁县| 南阳市| 盐池县| 广德县| 永胜县| 鸡西市| 清远市| 宁河县| 郯城县| 鄯善县| 西丰县|