VOT Research Desk
According to Shanghai Securities News, citing former top State Administration of Foreign Exchange official Guan Tao China needs to secure a robust home economy, improve financial regulation, and reform institutional opening-up to support the long-term international usage of the yuan.
Because of its market-oriented exchange rate and its solid performance, the yuan is gaining ground as a significant international currency.
Because of eased limitations on outbound investment in the yuan bond market, the yuan is projected to surpass sterling and the yen in world foreign exchange reserves.
