日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / View

Get ready for yuan in IMF basket

By Mike Bastin (China Daily) Updated: 2015-08-17 11:22

Get ready for yuan in IMF basket

Internationalization of Chinese currency picks up pace with clearing centers around the world

It came as no surprise recently to read that the Chinese yuan, or renminbi, as it is also widely known, is set to replace the Japanese yen to become the fourth international currency within two years.

Such is the rise of the yuan that eclipsing the yen in the short term is an absolute inevitability.

Indeed, since November last year the yuan overtook both the Canadian and Australian dollars to rank as the world's fifth-largest payment currency worldwide.

Breaking into the top five world payment currencies is a milestone and signifies an unstoppable internationalization momentum. This confirms the yuan's transition from an "emerging" to a "business as usual" payment currency.

European industry should be aware of the rapid rise of the yuan and be more prepared than ever to do business in this currency, and not just when dealing and trading directly with Chinese companies.

The global rise of the yuan has been happening for years. Since last year a total of eight new offshore yuan clearing centers have been established, fueling further international growth.

The almost exponential rise in the internationalization of the yuan can be appreciated by the whopping 321 percent leap in the value of yuan-denominated payments since December 2012. During this time, payment growth denominated in all other currencies on the top 10 list grew by less than 50 percent.

But later this year we may well see another major milestone in the internationalization of the Chinese currency. That is when the International Monetary Fund is to complete its customary five-year review of its Special Drawing Rights currency basket. The likelihood of the yuan being added to the currencies already included is high.

If the IMF takes this step and adds the yuan to its SDR currency basket, it will signify the biggest step yet in the internationalization of the Chinese currency, and the entire Chinese economy, for that matter.

European businesses need to be aware of this "new kid on the currency block" and ensure that systems and strategies are in place that accommodate this change in the balance of currency power.

In order to cater to the inevitable growth in demand for the yuan, China's central government has in recent times appointed a grand total of no fewer than 15 clearing banks worldwide outside of the Chinese mainland to accommodate the rapidly rising popularity of its currency. The locations are Hong Kong, Macao, Taipei, Singapore, Seoul, London, Paris, Frankfurt, Switzerland, Luxembourg, Malaysia, Bangkok, Sydney, Toronto and Dubai.

But just how significant would SDR inclusion really prove to be?

In order to answer this question it is important to look briefly at the role of the IMF generally and the use of its SDR around the world.

The IMF, founded in 1944 and headquartered in Washington DC, remains a key cog in the global economy with the sole aim of securing financial stability across the world and in so doing, facilitating sustainable global economic growth. The IMF represents an impressive total of 188 countries.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 三区四区在线观看 | 国产福利99 | 中文字幕第7页 | 国产99久久久 | 国产精品麻豆一区二区 | 成人av网站大全 | 黄色片成人 | 欧美一级做| 97青草| 三级亚洲欧美 | 91视频直接看 | 亚洲最大激情网 | 午夜私人影院在线观看 | 91精品国产一区二区三区蜜臀 | 天天插天天搞 | 男人的天堂视频 | 婷婷四房综合激情五月 | 最新av在线免费观看 | 成人天堂网 | 久久综合社区 | 午夜免费福利在线观看 | 久久婷综合 | 一区二区在线视频播放 | 国产女人18毛片 | 台湾综合色 | 久久久久久久久97 | 四虎在线免费观看视频 | 欧美性猛交xxxxx少妇 | 人人射人人射 | 日本色午夜 | 国产一区二区三区四 | 天天狠狠操 | 美日韩视频| 日本熟女毛茸茸 | 亚洲午夜精品久久久 | 日日色综合| 久久这里只有精品6 | 四虎国产成人永久精品免费 | 激情五月色播五月 | 欧美亚洲国产一区二区三区 | 日本一级片在线播放 |