Belt and Road Boosts RMB Internationalization

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.