The Chinese currency can win in the trade wars. This opinion was expressed by Deputy head of the people’s Bank of China (PBOC) pan Gunsan, according to Bloomberg.
According to him, in cross-border settlements, some countries and regions use the local currency. Pan believes that this opens for the yuan the new global opportunities. “The Bank will work to strengthen the confidence of world investors to the yuan, and promote global usage of the currency,” he said.
In may 2019 between China and the United States escalated a trade confrontation. Then the parties exchanged mutual import restrictions. Washington imposed duties on Chinese goods at $ 200 billion, Beijing responded with restrictions on imports of American goods at $ 60 billion. At the end of June after talks at the G20 summit, countries agreed to resume negotiations and to postpone all possible trade restrictions.
The desire to make the yuan a world currency in 2018, said the head of the NBK Governor Zhou Xiaochuan.
Video, photo All from Russia.