China central bank official says yuan internationalisation is market-driven By Reuters

0
170
© Reuters. FILE PHOTO: Chinese 100 yuan banknotes in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing


© Reuters. FILE PHOTO: Chinese 100 yuan banknotes in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing

SHANGHAI (Reuters) – Internationalisation of China’s yuan is market-driven, a monetary policy official of China’s central bank said Tuesday, in a speech originally prepared for the central bank’s deputy governor.

” internationalisation is a natural process driven by the market, and its basic motivation is real demand from trade and investment,” said Huo Yingli, director general of the Monetary Policy Department II of the People’s Bank of China (PBOC).

She was speaking at a forum hosted by the PBOC and China’s State Administration of Foreign Exchange at the China International Import Expo.

PBOC Deputy Governor Pan Gongsheng was unable to make the speech in person due to official duties, according to the organisers of the forum.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here