China is seeking a "level playing field" for use of the renminbi in international trade, PBOC governor Yi Gang said in Washington on Saturday, with households and enterprises free to use other currencies if desired, although he noted that larger investors may prefer to reduce their FX exposure by trading in yuan.

“[Renminbi] use abroad is market oriented activity and we respect the choice of enterprises and households," Yi said. "If they want to use the US dollar or the euro, that’s fine. We should have a level playing field." (See MNI INTERVIEW: Wider Yuan Use Needs More Assets, Offshore Hubs)