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People's Daily Online>>China Business

Other ways to achieve yuan internationalization


13:46, April 18, 2012

China has announced a milestone reform of its currency, in a move that may spur gains in the value of the renmenbi. Beginning Monday it can fluctuate up to one-percent in trading against the United States dollar. That’s up from a previous limit of point-five percent. The yuan is weaker Monday as investors are worried about Europe and a bit on China’s growth.

For more analysis about the impact of the widened trading band for the RMB, we’re joined in the studio by Mr. Ding Yifan from the Development Research Center of the State Council.

Q1. This is clearly a significant development, but should we be managing our expectations in terms of the short term, and even medium-term impact of this widened trading band? What about the long-term changes?

Q2. This is a step in the right direction to internationalise the yuan, make it more market-oriented - but what are some of the other reforms that should occur?


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