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: 日韩中文字幕亚洲 | 国产一区一区三区 | 日本黄色中文字幕 | 久久久久中文字幕亚洲精品 | 午夜视频在线观看一区 | 色久婷婷 | 国产精品欧美在线 | 亚洲va韩国va欧美va | 国产视频一| 成人综合久久 | 国产成人免费观看视频 | 日本欧美精品 | 在线日韩中文字幕 | 四虎影视8848 | 久久手机免费视频 | 日韩美女一区 | 国产一区二区视频在线观看免费 | 国产高清一区 | 毛片毛片毛片毛片毛片毛片 | 五月婷婷激情五月 | 91亚洲国产成人精品一区二三 | 日本色中色 | 香蕉视频污版 | av黄网 | 中文字幕在线观看视频网站 | 经典三级av | 免费日韩网站 | 欧美日在线观看 | 欧美久热| 亚洲成人福利视频 | 99久久九九 | 国产91在线免费观看 | 99精品网站 | 日本 欧美 国产 | 99热99精品| 香蕉视频在线免费看 | 国产激情视频一区 | 午夜国产福利 | 国产精品福利小视频 | 欧美黄色免费视频 | 日韩激情在线播放 |