MNI BRIEF: Fed's Daly-Have Entered 'Gradualist' Phase Of Cuts

MNI BRIEF: EU Says Ready To Purchase More U.S Energy

MNI BRIEF: Tighter BTPs Lowers 17.1Bln In Debt Burden- Gov't

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

MNI: UK CBI DEC DIST TRADE REPORTED SALES -15

MNI: FRANCE NOV PPI +3.2% M/M, -5.2% Y/Y

MNI: GERMANY NOV PRODUCER PRICES +0.1% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

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

CHINA PRESS
EM BulletPolicy NewsAPACEM Policy NewsChinaEmerging Market NewsEM BriefBulletBriefMarketsFixed Income BulletsForeign Exchange Bullets

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)

85 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

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)