Internationalisation of the RMB is Currently Facing a Better Environment and Opportunities, Governor Says

SHANGHAI, Apr 25 - On the morning of March 3, Pan Gongsheng, vice-governor of the People's Bank of China and director of the State Administration of Foreign Exchange, said in an answer to a reporter's question that the RMB has initially had a network effect for international use.

Enterprises are more willing to use RMB in cross-border trade, investment and financing to avoid the risk of currency mismatch.

With the recovery of my country's economic growth momentum and the further opening up of the financial market, the RMB's investment and risk-avoiding functions have gradually increased.

The development of the international monetary system has also become more diversified.