Zhou Says China Wants More Use of IMF's Reserve-Currency Unit
- G-20 officials plan to disucss IMF SDR at a seminar next week
- China has long sought to boost international use of the yuan
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People’s Bank of China Governor Zhou Xiaochuan said Group of 20 finance chiefs will discuss the International Monetary Fund’s reserve currency as their meetings continue this year, and that Chinese officials want to gradually increase use of the funding tool.
The IMF’s Special Drawing Rights will be one of the topics when G-20 officials hold a seminar next week about the international monetary system, Zhou said in a panel discussion Thursday at the Boao Forum for Asia on the southern island of Hainan, where top government and corporate officials have gathered this week to discuss economic issues facing the region.