The short-term volatility of the yuan...>

CHINA PRESS: The short-term volatility of the yuan exchange rate will not change

its internationalization trend, the People's Daily reported Friday. The Chinese

government mouthpiece was responding to western media comments on slowdown of

the currency's internationalization given data Society for Worldwide Interbank

Financial Telecommunication (SWIFT) showing the yuan's  share of international

payments is now smaller than it was two years ago. From a trade and investment

perspective, the drive for yuan internationalization has never changed, the

newspaper said. The process faces challenges, including maintaining a stable

yuan exchange rate, the current limited ability and relative high cost of

hedging yuan exchange rate risks, and limits at the moment on the amount of

assets priced in yuan, the report admitted. The usage of the yuan in global

market will increase in the  long term as the Chinese economy continues to grow

and the One Belt, One Road initiative is pushed forward, the report stressed.

(People's Daily)