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Japan's finance ministry calls for transparency in China to internationalise yuan

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Japanese Finance Minister Taro Aso on Friday called for China to make its economic management more transparent in order to help the yuan become a global currency.

[TOKYO] Japanese Finance Minister Taro Aso on Friday called for China to make its economic management more transparent in order to help the yuan become a global currency. "It would be good for the yuan to become a global currency," Mr Aso told reporters after a cabinet meeting, when asked about the prospect for inclusion of the yuan in the International Monetary Fund's currency basket.

Asked about an expected debate at next week's Group of 20 finance chiefs' gathering in Peru, Mr Aso said the global economy faced downside risks due to uncertainty about the outlook over China, Germany and Europe.

REUTERS