Yi Gang Says RMB Internationalization Making Steady Progress

As the media more, the guests can not answer all the questions one by one. But referred to as the country's long-term strategy of the RMB internationalization process, the original plan to leave the venue of the easy to turn on the Phoenix Finance reporter said, "steady progress", and increased tone twice reiterated the key words. Around the participants heard also kept echoing, "steady progress" these four words suddenly let the atmosphere relaxed and active.

The internationalization of the RMB "steady progress"
It is understood that the promotion of the internationalization of the renminbi as a national strategy, and is a long-term behavior, so "push" is imperative; how to understand "steady" Advancing the process of facing some short-term need to balance the interests, such as maintaining the stability of exports. Therefore, the key of the four words, the focus is to promote, how to promote it? Not radical but steady. But also to show the attitude of the Chinese exchange rate policy is responsible for the country is also responsible for the world, but also to seek and the dollar a coordination and balance.

The biggest resistance in the internationalization of RMB
In addition, the process of internationalization of the RMB is indeed facing some challenges and risks: the dollar is currently strong, because the US economy into a rising cycle, the strong dollar position in the next period of time will be maintained. And promote the process of internationalization of the RMB, the biggest resistance is the strength of the dollar and the dollar hegemony. As the dollar as the world's most powerful currency, then the yuan will certainly promote the hegemony of the dollar challenge. From a different perspective, the Fed will hinder the internationalization of the RMB process.

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