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| Infographie : François Descheemaekere |
[People's Daily Online]
The internationalization of the yuan, which has not achieved full capital account convertibility, is mainly driven by market demand, experts said at the sixth China International Private Equity that kicked off in Tianjin on June 10. Demand for yuan trade settlement promotes the currency’s internationalization. Wang Xiaoyi, deputy head of the State Administration of Foreign Exchange, said that it will be a major step from yuan convertibility to yuan internationalization during the process of China’s integration into the international community.
“Although China is now the world’s second largest economy, it cannot be considered a world economic power until the yuan becomes a reserve currency,” Wang said.
Lire : english.peopledaily.com.cn
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