Fifth China wants the yuan as a reserve currency

Here are foreign media interpretation zhou hope yuan to join the SDR seven reasons:

1. Global popularity

China is already the world’s second largest economy, its currency behind its international interests.

2. Lower borrowing costs

As China’s push to join the SDR, reduce restrictions on capital flows, will make the yuan more internationalization. This will help Chinese companies to expand overseas, reduce its borrowing costs.

3. A multipolar world

China’s strategic point of view is to develop a “multipolar” world, America is just one part, not the hegemon. In the past, zhou xiaochuan, calling for the expanded use of the SDR to replace the dollar. Globally recognised reserve status can make China closer to the goal, at least in terms of money.

4. Price in the

The situation of the RMB in cross-border trade and investment settlement has been on the rise, but has not yet set, including crude oil, iron ore, the international prices of the goods.

5. The demand for the yuan

According to standard chartered bank (microblogging) estimates that there are more than 60 central Banks (microblogging) investment of the yuan. Will be included in the SDR basket, the RMB will attract more buyers.

6. Push forward the reform of

In order to join the SDR, China must carry forward the plan of opening capital account. This reform will restructure industry, change the way Chinese companies to do business.

7. The IMF approved

For China’s central bank governor zhou xiaochuan, the RMB to obtain the status of the SDR will represent the recognition of his reform efforts. Zhou’s reform measures include interest rate liberalization and relax the so-called financial repression, savers subsidies investment oriented growth.

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