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PBOC Pan Gongsheng: RMB Becomes World's 2nd Largest Trade Finance Currency, 3rd Largest Payment Currency
The international monetary system's shift towards multipolarity helps to strengthen policy constraints of sovereign currency countries, enhance the resilience of the internatio...
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PBOC Pan Gongsheng: RMB Becomes World's 2nd Largest Trade Finance Currency, 3rd Largest Payment Currency
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The international monetary system's shift towards multipolarity helps to strengthen policy constraints of sovereign currency countries, enhance the resilience of the international monetary system, and more effectively maintain global economic and financial stability, Chinese media quoted Pan Gongsheng, the Governor of the People's Bank of China (PBOC), as saying at the Lujiazui Forum.

The Renminbi has become the world's second largest trade finance currency; when calculated on a full-caliber basis, the Renminbi has become the world's third largest payment currency, ranking third in the International Monetary Fund (IMF) Special Drawing Rights (SDRs) currency basket in terms of weighting, Pan elaborated.

Related NewsM2 Money Supply YoY for May in China is 7.9%, lower than the previous value of 8%. The forecast was 8.1%.

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