三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Use of Chinese yuan in cross-border transactions surges: officials

CGTN | Updated: 2020-11-26 14:54
Share
Share - WeChat
Currencies of different countries. [Photo/Sipa]

The current global economic environment has made the Chinese yuan attractive for cross-border transactions, several officials said during the ongoing 2020 China-Singapore Connectivity Initiative Financial Summit.

"The use of yuan in cross-border transactions has been increasing during the pandemic, up 40 percent in the first three quarters from a year ago. Most of the transactions were supporting the real economy," said People's Bank of China (PBOC) director of macro prudential policies Huo Yingli.

Foreign investors' holdings of yuan denominated stock and bond assets both increased in the same period, and 50 percent of the total yuan cross-border transactions were through the trading of securities assets, said Huo.

The promotion of the Chinese yuan in global transactions has been a key focus at the summit, which is jointly organized by Chinese and Singaporean financial authorities, in the southwestern Chinese city of Chongqing.

China and ASEAN countries are leading the post-COVID economic recovery, a main reason governments and financial institutions from these countries are hoping to collaborate more in this economically challenging period even as the pandemic poses challenges to cross-border capital flows in Asia.

For over a decade, China has been promoting the globalization of the yuan. In a report in August, PBOC said that more cross-border payments were made and received in China's yuan in 2019 as foreign trade firms are willing to use the yuan in cross-border transactions to avoid exchange rate risks, lower costs in settlements, and make accounting and fund management easier.

Meanwhile, Hong Kong Exchanges and Clearing (HKEX) managing director and chief China economist Ba Shusong said now is a good time to promote the use of yuan in the global market.

"Japan, the US and the Eurozone have announced zero or even negative interest rates, reducing their currencies' performances. Meanwhile, China's rapid economic recovery makes the yuan attractive. We need to make it more cost effective for global investors to hold yuan denominated assets in a more open yuan asset market," he said.

One issue remains key to the promotion of the yuan in regional transactions between China and ASEAN countries. "We need freer conversion of yuan into a variety of currencies of ASEAN member countries, without converting into the US dollar first, to lower the transaction cost using the yuan," said Ba.

 

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 亚洲欧美日韩国产精品第不页 | 国产草莓视频入口免费网站 | 国内自拍视频在线观看 | 国产区在线看 | 香蕉久久网站 | 亚洲精品久久午夜香蕉 | 女人被免费视频网站 | 国产精品va欧美精品 | 亚洲精品99久久久久久欧美版 | 国产成人一区在线播放 | 一级毛片黄色 | 亚洲你懂的 | 免费观看日本污污ww网站一区 | 国产精品亚洲色图 | 五月色综合婷婷综合俺来也 | 国产精品欧美亚洲韩国日本 | 精品乱码 | 97干视频| 欧美一级毛片欧美一级 | 国产精品69白浆在线观看免费 | 亚洲国产婷婷香蕉久久久久久 | 亚洲黄色a | 日韩中文字幕在线免费观看 | 国内精品久久久久影院老司 | 亚洲欧美在线免费 | 一级黄录像 | 特级黄色片视频 | 国产成人精品免费视频大全软件 | 国内精品综合九九久久精品 | 大陆黄色一级片 | 欧美精品人爱a欧美精品 | 日韩第一页在线观看 | 日本xxx免费视频 | 青草国产在线视频 | 一级美国乱色毛片 | 操片免费看 | 国产精品人伦久久 | 麻豆免费视频 | 日本护士xxxxx极品 | 成人精品一区二区久久 | 国内自拍在线视频高清 |