SDR Will Become the Reporting Currency of China

International Monetary Fund (IMF), Christine Lagarde, OECD (OECD) Secretary-General Gurria, IMF Director Michel Camdessus, former president, G20 finance ministers and central bank governors of Member States section, as well as Academy of Social Sciences academician Yu Yongding, Peking University Yiping Huang, vice president of the national Research development and other well-known Chinese and foreign scholars attended the meeting.

Zhou Xiaochuan at the press conference after the seminar with French Finance Minister Saban, Lagarde attended, said, “SDR could become the international monetary system in a stable force. If we act now, to take measures, it can lay the foundation for future progress effectively, thus expanding the use of SDR is not difficult. for example, the use of SDR as a reporting currency, and the development of SDR-denominated asset markets can bring many benefits. China will soon use the dollar as foreign exchange reserves and SDR data reporting currency, and actively SDR-denominated bonds issued in China. ”

For this reform, although people including Nobel laureate Joseph Stiglitz and the British “Financial Times” chief economic commentator Wolf, including both “twelfth” approve of, but they are for the new financial reporters, the possibility of obtaining significant progress this year, “almost non-existent.”

“Maybe so, but the discussion is undoubtedly necessary.” Yu Yongding, shortly before the meeting rushed to express the new fiscal reporters. Yiping Huang rushed to Paris for a new financial reporter, he said that depending on the pace of reform to achieve the desired extent, the second depends on whether countries within the next few years will feel over-reliance on the dollar is a burden.

Harvard University professor involved in the design SDR during the Assistant Secretary of State for the development of SDR-denominated asset markets, was in the 1960s, then US is responsible for international monetary affairs, told reporters that the new wealth of Cooper pairs, Asian investment bank to be the first issue SDR-denominated bonds, actuating multilateral institutions to issue the World Bank, ADB, etc., in order to start the asset markets (kickstart) SDR-denominated. World Bank a few years ago to have this motion, but not below.

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