Free Trial

MNI BRIEF: PBOC Seeks Level Playing Field On Currency Use - Yi

(MNI) LONDON
WASHINGTON

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)

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com

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.