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Measures Needed to Promote Reserve Assets
And China is ready to implement it soon with IMF full support! The US treasury bills will be shunned to a degree for better international trade and deposing the dollar as a reserve petrol based currency.
serf
http://www.globaltimes.cn/content/1043754.shtml
PBC Governor Zhou Xiaochuan pointed out in 2009 that SDRs, which have the potential to "act as a super-sovereign reserve currency," should have a greater role in reforming the international monetary system.
In late October 2016, Standard Chartered Bank (Hong Kong) successfully issued one-year bonds denominated in SDRs in China's interbank market, two months after the World Bank started selling three-year SDR bonds.
China will actively facilitate the use of SDRs in the bonds market, domestic news portal caixin.com reported on Saturday, citing Yi at the forum.
The role of the yuan in pushing SDR usage is not very big yet, partially due to limited allocation, experts said.
The IMF's weighting in the SDR of the US dollar, the euro and the yuan are 41.73 percent, 30.93 percent and 10.92 percent, respectively, according to the IMF website.
serf
http://www.globaltimes.cn/content/1043754.shtml
PBC Governor Zhou Xiaochuan pointed out in 2009 that SDRs, which have the potential to "act as a super-sovereign reserve currency," should have a greater role in reforming the international monetary system.
In late October 2016, Standard Chartered Bank (Hong Kong) successfully issued one-year bonds denominated in SDRs in China's interbank market, two months after the World Bank started selling three-year SDR bonds.
China will actively facilitate the use of SDRs in the bonds market, domestic news portal caixin.com reported on Saturday, citing Yi at the forum.
The role of the yuan in pushing SDR usage is not very big yet, partially due to limited allocation, experts said.
The IMF's weighting in the SDR of the US dollar, the euro and the yuan are 41.73 percent, 30.93 percent and 10.92 percent, respectively, according to the IMF website.
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