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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies, Trends

CIC official : Yuan could be used in 10pct of settlements in 10 years

Posted on 23 May 2012

The yuan could be used to settle 10% to 15% of international transactions in 10 or 20 years time, a senior official at China’s sovereign wealth fund said Tuesday.
Jin Liqun, chairman of the supervisory board of China Investment Corp., said China’s currency is “well on its way” to becoming an international reserve currency but its role is still “insignificant” compared to the dollar or euro………………………………………..Full Article: Source


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