Ex-PBoC governor says renminbi internationalisation is long-term project

Zhou Xioachuan
Zhou Xiaochuan

Chinese policymakers should regard promoting the global use of Chinese renminbi is a long-term, said Zhou Xiaochuan, former governor of the People’s Bank of China.

The international adoption of the renminbi “is a choice made by market participants”, he told a forum in Beijing on August 11.  

Some China watchers have said renminbi internationalisation is showing signs of stagnating, following its inclusion into the International Monetary Fund’s special drawing rights basket in 2016. But Zhou

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