‘Not clear’ China wants renminbi to rival dollar, says CIC’s Lau

dollar-and-renminbi

China may eschew the multi-billion dollar annual benefits enjoyed by major reserve currency seigniorage - the revenue that a government raises by printing money that is held overseas - as this would result in Beijing having to run a trade deficit, according to Lawrence Lau, chairman of the Hong Kong arm of China sovereign wealth fund CIC.

The authorities in Beijing have undertaken a major offensive to use China's clout as the world's second largest economy to promote the use of the renminbi in t

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: