Xi sees renminbi taking greater role in global monetary system

Chinese president Xi Jinping
Xi Jinping called for quality and equality of development rather than fast growth

China will continue to promote renminbi internationalisation with greater exchange rate flexibility, seeking a more stable position in the global monetary system as a reserve currency, China’s president and central bank officials have said.

The 19th Congress of the Communist Party of China (CPC) started on October 18. In his opening speech, president Xi Jinping said “socialism with Chinese characteristics” has entered a new era, calling for greater economic policy focus on the quality and equal

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