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CHINA PRESS: Yuan To Reach 17% Of Global Payments By 2035

CHINA PRESS
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China’s yuan is expected to reach 17% of global payments by 2035 should the current trend of one percentage point increase per year be maintained, according to Huang Qifan, professor at Fudan University and former mayor of Chongqing. Speaking at a financial forum, Huang said China will liberalise its capital account only when yuan internationalisation equals the nation's position in the world economy. Looking ahead, Hong Kong should continue as an offshore yuan centre, while authorities develop the Regional Comprehensive Economic Partnership region. (Source: Yicai)

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China’s yuan is expected to reach 17% of global payments by 2035 should the current trend of one percentage point increase per year be maintained, according to Huang Qifan, professor at Fudan University and former mayor of Chongqing. Speaking at a financial forum, Huang said China will liberalise its capital account only when yuan internationalisation equals the nation's position in the world economy. Looking ahead, Hong Kong should continue as an offshore yuan centre, while authorities develop the Regional Comprehensive Economic Partnership region. (Source: Yicai)