Chinese yuan an international currency in 2020

[ltr]November 10, 2015


Our economy / follow-up
China's economic giant continues to expand its influence on the world despite the difficult economic conditions taking place in the world as a result of the decline in oil prices, which Aazzoa experts one causes to lower Chinese growth rates that reduced demand for oil is now Beijing continuous firing plans aimed at making the yuan an international currency rivaling the dollar and the euro if announced China's central bank governor Zhou Xiaochuan in an article published in the magazine "Kaychen" Chinese, that his country will apply a package of economic and financial reforms over the next five years, will help the yuan to become an international currency by 2020.

Zhu said in the article that explains the thirteenth of China's five-year economic plan proposed for the years 2016 to 2020 that the government will support confidence in the yuan and encourage entry into the basket of currencies Special Drawing Rights of the International Monetary Fund and its transition to a convertible currency fully.

He also said that China will strengthen supervision of its financial system to prevent a "systematic risk" through the effective use of risk control tools.




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