The yuan's status in the world..........>

CHINA PRESS: The yuan's status in the world continues to rise and China's

financial markets continue to open up, People's Daily, a government mouthpiece,

said Monday in a front-page commentary. China has reduced foreign-exchange

risks, made trade and investment more convenient through bilateral currency

swaps, the renminbi-qualified foreign institutional investors (RQFII) program,

outright monetary  transactions, renminbi clearing banks and the Cross-Border

Interbank Payment System. China will stick to further opening up markets,

improving the pricing process for the yuan exchange rate and reducing controls

on capital flow, the newspaper said. "This creates a good financial environment

for China's economic growth," said Zhu Juan, director general of the

international department at the People's Bank of China. (People's Daily)