Good leadership and a conservative approach towards liberalisation will aid China’s transition
RenminbiWorld 2013 draws more than 140 senior participants from around the world with active dialogue on critical trends shaping the global economy, as seen from the internationalisation of the renminbi. November 11, 2013 | Timothy ShimThe Asian Banker’s annual RenminbiWorld Conference was held from 7th to 8th November 2013 at the Park Hyatt Beijing. The two-day event connected together both international players as well as senior Chinese officials in frank and practical dialogues on the opportunities arising from their policy directions. International dialogue participants were hand-picked from a cross-section of players and influencers from around the world, taking part in multiple panellist sessions, contributing to a holistic view of the issues and opportunities created by the transformation taking place in China today. Speaking at the opening, Wei Jianguo, secretary general at the China Centre for International Economic Exchange and former vice minister of commerce, People’s Republic of China, spoke on China’s growing economy and the internationalisation of the renminbi. “We should elevate the renminbi's profile in the international market in a multifaceted manner," said Wei, "including yuan settlement in China's foreign aid to other countries, in fairs and bazaars at border regions with neighbouring countries, and by setting up eight to 10 yuan offshore centres similar to Hong Kong. Other notable speakers at the two-day event included Peng Junming, chairman at Empire Capital Management, and Ms. Gertrude Tumpel-Gugerell, former executive board member of the European Central Bank Key issues covered included critical current trends shaping the global economy, as seen from the internationalisation of the renminbi. These included an education on the internationalization of an economy, as well as the pursuit of a wide range of specific opportunities to develop ideas on renminbi-based products, businesses, and financial instruments. “We hold this conference at a crucial time in China’s economy, when the country is moving from being a low-cost manufacturer for the world to becoming a middle-income country of its own standing,” said Emmanuel ... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: China, Payments, Rmb, Transaction BankingChina,Payments,Rmb,Transaction Banking, China,Payments,Rmb,Transaction Banking, Keywords:Wei Jianguo, RenminbiWorld 2013, Emmanuel Daniel Wei Jianguo, RenminbiWorld 2013, Emmanuel Daniel
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