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Belt and Road Boosts RMB Internationalization

Belt and Road Boosts RMB Internationalization

2019-04-24

THE Belt and Road Initiative was written into the Constitution of the Communist Party of China (CPC) at the 19th CPC National Congress, signaling China`s resolution and confidence in carrying out international cooperation under this initiative.

From a long-term, global perspective, China and the countries along the routes have obtained a slew of benefits in infrastructure construction and production capacity cooperation, laying a concrete foundation for further cooperation. However, financial risks remain a hindrance to transnational synergy. To facilitate the use of China`s RMB in countries involved in the Belt and Road Initiative will help Chinese investors get around bottlenecks in exchange rates, financing, and debts, and furthermore promote the currency`s status in the international monetary system.

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