日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Weight of yuan raised as global currency

By ZHOU LANXU | CHINA DAILY | Updated: 2022-05-16 07:26
Share
Share - WeChat
Foreign currencies are placed next to 100 yuan banknote of China's renminbi. [Photo/IC]

The International Monetary Fund's decision to raise the renminbi's weight in a key global reserve asset marked the steady progress of the renminbi's internationalization, reflecting the currency's growing global heft and the achievement of China's financial opening-up, industry experts said on Sunday.

In the latest valuation review of the Special Drawing Right-an international reserve asset also known as the SDR, the IMF raised the weight of the renminbi in the basket of currencies that make up the SDR by 1.36 percentage points to 12.28 percent, the People's Bank of China, the nation's central bank, said on Sunday.

The SDR valuation review, completed on Wednesday, marked the first review since the renminbi was included in the SDR basket in 2016, with a share of 10.92 percent, the central bank said.

Effective on Aug 1, the weight increase will allow the renminbi to continue to account for the third-largest share in the basket, behind only the US dollar and the euro but ranking higher than the Japanese yen and the British pound.

"The weight increase reflected that renminbi internationalization has made steady headway thanks to China's growing heft in the global economic, trade and financial landscape," said Zhang Xiaotao, dean of the School of International Trade and Economics at the Central University of Finance and Economics.

An IMF statement on Saturday said the updated SDR weights were based on developments in trade and financial markets from 2017 to 2021, with IMF executive directors acknowledging the progress made on financial market reforms in China.

They called for additional efforts to further open and deepen the onshore renminbi market, and some also stressed the need to enhance data transparency, the IMF said.

Reiterating China's commitment to financial market opening-up, the PBOC vowed on Sunday to simplify the procedures for foreign investors to invest in the Chinese market, enlarge the universe of investable assets, improve data disclosure and the business environment, and extend trading hours of the interbank foreign exchange market.

Zhang said more financial reform and opening-up steps will help accelerate renminbi internationalization by facilitating free capital flows and cementing the preferences by global investors for renminbi-denominated assets.

He added that the renminbi's recent depreciation against the dollar is due to short-term shocks, such as a resurgence in COVID-19 cases, and is unlikely to alter the country's long-term development potential or derail the future internationalization of the renminbi.

Yang Haiping, general manager of the Bank of Inner Mongolia's research development department, said the weight rise will help boost the willingness of overseas organizations to hold the renminbi and renminbi-denominated assets, solidify market confidence in the currency, and cushion the pressure of a strong dollar on the renminbi.

Apart from raising the SDR share of the renminbi, the IMF increased the dollar's weighting to 43.38 percent, up by 1.65 percentage points from the last review in 2015.

Top
BACK TO THE TOP
English
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
CLOSE
 
主站蜘蛛池模板: 丁香婷婷在线观看 | 97婷婷狠狠成人免费视频 | a视频在线| 亚洲一级在线观看 | 久久激情五月丁香伊人 | 色综合久久手机在线 | 毛片在线视频观看 | 久久一区二区三区四区 | 欧美日韩一区在线观看 | 亚洲欧美综合精品久久成人 | 91亚洲国产成人久久精品网站 | 一男一女的一级毛片 | jizz国产精品免费麻豆 | 精品无人乱码高清 | 激情一区二区三区成人 | 狠狠干天天干 | 久久影城| 日韩在线观看第一页 | 天堂色综合 | 日韩精品 | 欧美成人一区二区三区在线视频 | 伊人222综合| 91av久久| 欧美一级特黄aa大片视频 | 性欧美tube 精品 | 嫩草影院地址一二三网址 | 成人97在线观看免费高清 | 新视觉yy6080午夜毛片 | 免费色视频 | 国产精品久久久久久 | 日韩欧美一区二区在线观看 | 一区二区三区欧美在线观看 | 99热最新网址 | 亚洲国产国产综合一区首页 | 日韩欧美二区在线观看 | 午夜精品久久久久久 | 日韩精品一区二区三区视频播放 | 天天操天天射天天爽 | 欧美性生活视频 | 亚洲一区二区中文字幕 | 日本大黄视频 |