Economy
China to accelerate yuan internationalization: HKEx
(Xinhua)
Updated: 2010-04-10 06:07
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BOAO, Hainan - The internationalization process of China's currency yuan, or Renminbi (RMB), will accelerate, Li Xiaojia, chief executive of Hong Kong Exchanges and Clearing, said here Friday.
Li made the remarks at a meeting of Boao Forum for Asia's annual meeting which will officially open on Saturday.
The RMB internationalization is an inevitable outcome as China plays an increasingly important role on the world stage and has been a leading contributor to the global economic growth, Li said.
Following the process of wealth accumulation, China is entering the period for wealth inflation-proof and wealth increment, Li said.
The RMB internationalization is of critical importance to China in the period when capital flows out of the country for wealth inflation-proof and wealth increment, he said.
