8. Chinese yuan’s inclusion in the SDR
On Dec. 1, the Chinese yuan was included in the International Monetary Fund's (IMF) Special Drawing Rights (SDR) basket of currencies. The new basket of currencies will take effect on Oct. 1, 2016. The IMF said the yuan will have a 10.92% weighting in the basket. In the future, the yuan will become the third largest reserve currency in the SDR, following the U.S. dollar and the euro.
9. Preparatory work for the Asian Infrastructure Investment Bank completed
On June 29, representatives from the 57 prospective founding members gathered in Beijing for the signing ceremony of the Asian Infrastructure Investment Bank (AIIB). According to Chen Huan, vice-head of the preparatory group of the AIIB, the bank is on track to meet all the prerequisites for opening; the opening ceremony is expected to be held in January of 2016.
10. Shift from old to new accelerates
In November, the value added of China’s high-tech industry increased to 10.3 percent year on year. The actual use of foreign investment in high-tech and manufacturing industries increased by 51.7 percent and 11.7 percent respectively. This is the latest manifestation of the rise of China's new economy.
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