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

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Top Stories

Rising yuan use may lift IMF basket prospects

By Paul Welitzkin in New York | China Daily | Updated: 2015-10-07 10:49

 Rising yuan use may lift IMF basket prospects

A man walks past an advertisement promoting foreign exchange services in Hong Kong last August. Tyrone Siu / Reuters

The yuan's displacement of the Japanese yen as the world's fourth most-used currency is likely to bolster the Chinese currency's admission to the International Monetary Fund's (IMF) Special Drawing Rights basket of currencies, analysts said.

On Tuesday, transaction services provider Swift reported the yuan's new usage ranking.

William T. Wilson, a senior research fellow at The Heritage Foundation in Washington, noted several reasons for the greater use of the yuan: In 2013 China replaced the US as the world's largest trading nation. The yuan, also called the renminbi or RMB, has appreciated in real terms against most currencies the past decade to make it a desirable currency because of its preservation of store of value. And with China now the largest trading partner with 75 nations (many of them in Asia), it is quickly becoming a regional reserve currency.

"These factors all increase the probability the RMB will be included in the IMF (basket) sometime soon - perhaps a year from now. That said, until China removes its restrictions on capital controls, it will never challenge the US dollar as the world's dominant reserve currency," Wilson said in an e-mail to China Daily USA.

China has been waging a campaign to have the yuan included in the IMF's basket of currencies which the organization uses to value reserve assets. The basket includes the dollar, the euro, the British pound and the yen. The IMF may decide in November whether the yuan will join the basket.

"China's goal is to get its currency a much larger reserve currency status - currently quite small despite the enormous trade volumes," wrote Wilson. "Doing this would achieve a number of objectives the US has enjoyed the past 80 years."

"First, the greater use of RMB in international trade would remove much of the exchange rate risk burdened by Chinese exporters. Secondly, it would likely lower the borrowing cost of government entities. A greater acceptance of the RMB globally would likely lower the borrowing cost of sovereign debt," wrote Wilson.

"Growing use of the renminbi for cross-border trade and investment shows that demand isn't simply driven by China's domestic markets but that the currency's becoming deeply embedded into the international economy," Diane Reyes, global head of payments and cash management at HSBC Holdings PLC said in a statement.

paulwelitzkin@chinadailyusa.com

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
蓝田县| 南澳县| 遂平县| 汉寿县| 云南省| 湟中县| 旺苍县| 太康县| 商都县| 新和县| 黑水县| 响水县| 城市| 湄潭县| 平顶山市| 乌兰浩特市| 卢湾区| 黔南| 新田县| 抚远县| 酒泉市| 文登市| 阿合奇县| 永川市| 牙克石市| 大渡口区| 承德县| 洞口县| 都兰县| 鄂伦春自治旗| 策勒县| 绥滨县| 祁东县| 巴青县| 蛟河市| 普宁市| 库车县| 南和县| 当涂县| 祁东县| 拉萨市|