China’s plan to make renminbi a global currency enters faster phase
Beijing is focused on developing the infrastructure needed to expand the renminbi’s use.
BEIJING – China's push to expand the global use of the renminbi appears to be accelerating as authorities aim to build a more comprehensive financial ecosystem beyond trade settlement, according to recent reports from Bloomberg. The authorities are focusing on developing infrastructure to increase the currency's role in global financing, investment, and as a reserve currency.
This includes expanding available investment products and financial instruments, improving borrowing conditions for renminbi-denominated bonds, and enhancing liquidity and financing channels. China is also working to improve the renminbi's role in global portfolios and capital flows.
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- China’s plan to make yuan a global currency enters faster phase businesstimes.com.sg
- China’s Plan to Make Yuan a Global Currency Enters Faster Phase bloomberg.com
