China’s central bank official dismisses RMB concerns

Yao Yudong, head of the Research Institute of Finance and Banking under China’s central bank, dismisses concerns about RMB exchange rate fluctuation.

Following the decision of the International Monetary Fund to include the RMB in its SDR basket, Yao said Chinese economy can offer more liquidity for the global market. Besides, many developed and emerging countries could search for investment from Chinese enterprises and banks, especially the Asian Infrastructure Investment Bank or AIIB.

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