久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

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: 9久re在线观看视频精品 | 成人亚洲欧美日韩在线 | 欧美一级毛片大片免费播放 | 亚洲香蕉久久一区二区三区四区 | 在线久| 日韩在线看片中文字幕不卡 | 无套内谢孕妇毛片免费看 | 精品国产亚一区二区三区 | 理论片我不卡在线观看 | 国产成人欧美一区二区三区的 | 日韩欧美国产另类 | 国产欧美一区二区三区免费 | 日韩中文字幕精品一区在线 | 在线成人 | 久久精品免看国产成 | 欧美三级一区二区 | 在线欧美精品二区三区 | 日韩欧美一区二区在线 | 久久国产精品免费看 | 性欧美videos 精品 | 国产大陆亚洲精品国产 | 高清欧美一级在线观看 | 日韩欧美亚洲视频 | 成人欧美日韩 | 免费观看日本高清a毛片 | 99激情| 日韩字幕一中文在线综合 | 91精选视频在线观看 | free性欧美嫩交 | 久草国产在线观看 | 国产高清在线精品免费 | 亚洲va老文色欧美黄大片人人 | 国产激情视频在线播放 | 国产精品无打码在线播放9久 | aaa毛片免费观看 | 国产精品9999久久久久 | 国产亚洲一区二区三区在线观看 | 黄色美女网站在线观看 | 涩涩国产精品福利在线观看 | 欧美成人免费高清网站 | 成人国产一区二区 |