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 / Macro

Renminbi usage expands on route

By LUO WEITENG (China Daily) Updated: 2016-09-27 10:01

Renminbi usage expands on route

An employee at a bank counter in Nantong, Jiangsu province, counts renminbi and dollars. [Photo/China Daily]

The ambitious China-led Belt and Road Initiative is set to turbocharge the use of renminbi in international trade and finance, pumping fresh oxygen into the currency's global outreach, an economist said.

The massive trade and infrastructure project, first mooted by President Xi Jinping in 2013, echoes the world's second-largest economy's determination to sharpen the currency's role as a widely-used fundraising and payment vehicle in overseas financial centers to finance a constellation of infrastructure construction and booming trade across 65 countries and regions along the route.

The People's Bank of China recently said it has authorized Bank of China's New York branch to be the first renminbi clearing bank in the United States, beefing up the lender's offshore renminbi clearing business footprint to 11 countries and regions on five continents, and sending China's total number of overseas renminbi clearing hubs to more than 20.

The announcement came only two weeks before the currency's inclusion into the International Monetary Fund's special drawing rights to sit alongside the dollar, euro, sterling and yen. This is a milestone in China's efforts to internationalize the renminbi.

Foreign investors and companies can issue SDR bonds and Panda bonds in China to fund the Belt-and-Road projects and facilitate renminbi-denominated transactions overseas, said Fielding Chen Shiyuan, an economist at Bloomberg Intelligence in Hong Kong.

"Belt-and-Road companies, finding no difficulty in clearing and settling trade denominated in renminbi, would be encouraged to do more business in yuan overseas," Chen said.

Though the renewed depreciation pressures are eroding the currency's offshore liquidity pool and reducing its share of international transactions, Chen said he believed the currency is on course to find a more reasonable and balanced level of exchange rates.

"The offshore yuan today lost the pivot point it has gained support from for years, but will certainly seek out a new one, a market-driven and reasonable one, underpinned by the proactive role of renminbi in global real economies," he noted.

China's efforts to boost the yuan's global usage that accelerated in fits and starts since 2010, Chen pointed out, revived by the high-profile Belt and Road Initiative, which stands as "the very first stop where renminbi can be used in local businesses."

In particular, most members of the Association of Southeast Asian Nations have China as their biggest trading partner and are enthusiastic about the Belt and Road Initiative. They are poised to allocate more renminbi reserves for the regional development projects.

"Compared with most ASEAN currencies, the renminbi is still a more stable and higher-yielding option," Chen said. "In terms of regional integration, it stands as an anchor for ASEAN countries, giving them another good reason to be responsive renminbi users."

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产xxxxxx | 免费精品视频 | 欧美一及片 | 日本中文字幕在线观看视频 | 黄色裸体视频 | 热久久最新网址 | 午夜久久久久久久久久影院 | 国产精品久久91 | 密桃成人av | 日韩av男人天堂 | 免费在线看黄网站 | 午夜毛片在线观看 | www亚洲天堂| 清宫性史 | a在线观看视频 | 91热热 | 四虎在线免费观看 | 国产男女av| 日韩中文在线观看 | 日韩在线视频第一页 | 丁香网五月天 | 日本中文在线观看 | 欧美性免费| a在线视频| 五月婷婷开心网 | 欧美成人高清 | 欧美日韩在线观看视频 | 午夜av在线播放 | 视频在线h | 日韩精品一 | 91在线小视频 | 91a视频| 久久99久久精品 | 综合九九 | 国产1区2区3区 | 成人小视频在线播放 | 奇米影音先锋 | 久久精品一区 | 一区二区国产在线观看 | 亚洲性视频 | 中文字幕视频网 |