PBOC dep gov Yi Gang - yuan not yet a real reserve currency

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China Deputy Governor Yi Gang spoke at an event Wednesday evening in Beijing

Says PBOC's Yi
  • Says more reforms & further opening of its financial markets are needed to make the Chinese currency a "real" reserve currency
  • China needs to catch up with other "first-class" financial markets
  • There is a "very long distance between China and developed markets