RMB Will Become The Three Largest Free Currency In The World.

< p > on the internationalization of the RMB, Huang Zemin, a member of the CPPCC National Committee and a lifelong professor of East China Normal University, told reporters at the "Eleventh Shanghai derivatives market forum" that the medium and long-term goal of foreign exchange reform is to develop the renminbi into a free currency.

It also expressed confidence that the renminbi will become one of the world's three largest free currencies in keeping abreast of the US dollar and the euro.

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In the interview, Huang Zemin also said that China has become the world's largest trading country in 2013. From 2009 to April of this year, the total amount of settlement of cross-border trade < a href= "http://www.91se91.com/news/index_cj.asp" > RMB > /a > has reached 12 trillion and 350 billion yuan, and this figure is increasing rapidly year by year. From January to April this year, the RMB settlement of cross-border trade has reached 2 trillion and 190 billion yuan, accounting for nearly 27% of the total foreign trade volume in the same period.

It is expected to exceed 30% this year, or even higher.

Such development has laid a major trend in the internationalization of RMB.

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< p > < a href= > http://www.91se91.com/news/index_cj.asp > > Huang Zemin < /a > thinks that internationalization of RMB is a long process.

Whether RMB can become an international free currency depends mainly on China's own level of economic development and economic restructuring.

The external economy has a certain impact on the constraints of RMB internationalization, but it is not the most important consideration.

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< p > Huang Zemin put forward that our country signed a currency swap agreement with some neighboring central banks since 2008.

Until last year, it has developed to developed countries. The Bank of England and the European Central Bank have signed a currency swap agreement with the Central Bank of China. The world has generally expressed a positive attitude towards the RMB.

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< p > on the development prospect of RMB < a href= "http://www.91se91.com/news/index_cj.asp" > internationalization < /a >, Huang Zemin put forward very strong anticipation.

First of all, the proportion of RMB in the global external trade is increasing.

Secondly, as the world's first trading power in the external sexual intercourse, its influence is very huge.

The increase in volume of trade will inevitably lead to an increase in the use of money.

China is already the second largest economic power in the world, which also satisfies the basic conditions for the internationalization of the whole currency.

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< p > Huang Zemin said that the problem at this stage is that China's external dependence on economy is relatively large and that it takes a long time for structural adjustment.

This is why the central bank always holds a more cautious attitude, and the reason for its openness is also very small.

China is generally satisfied with the two basic conditions of international currency, but it is not yet fully available.

If there is not a very solid spot market for foreign exchange, the currency risk will be relatively large if we want to promote internationalization.

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