China sees RMB as international currency by 2020

Beijing

CHINA will plough ahead with its financial reforms with the aim of making the renminbi (RMB) an international currency by 2020, the central bank governor Zhou Xiaochuan said on Tuesday.

In an article published in the Chinese financial newspaper Caixin, he said that China will "promote financial liberalisation and development", as well as "enhance the efficiency of the financial system to serve the real economy".

He said that China wants to introduce yuan convertibility under the capital account and expand…