1. Text: | Print|

      Currency swap signals worldwide confidence in economy

      2013-10-12 07:58 Xinhua Web Editor: qindexing
      1

      China has signed a 350 billion yuan (45 billion euro) currency swap agreement with the European Union (EU). in a deal signaling the world's unshakable confidence in the Chinese economy.

      The "alliance" between the Renminbi and the euro, the second largest reserve currency as well as the second most-traded currency in the world after the U.S. dollar, demonstrates the increasing status of the Renminbi and China's quickening step in internationalizing its currency.

      So far China has signed currency swap deals totaling 2.2 trillion yuan(358 billion U.S. dollars) with 22 countries and regions, and the Renminbi has been among the top ten most-traded currencies across the world.

      More importantly, the deal has sent a strong signal to the world that Europe is fully confident in China's economy, despite the cliche downbeat tone of previous reports by some Western media outlets.

      The confidence lies in the burgeoning Chinese economy. Chinese President Xi Jinping spoke at the recent APEC summit on the topic, saying that "an annual speed of seven percent is enough to realize China's goal of doubling gross domestic product (GDP) and income per capita between 2010 and 2020."

      In addition, the recently inaugurated Shanghai free trade zone is set to bring more impetus to the Chinese economy.

      Furthermore, the "alliance" between the Renminbi and the euro is a win-win deal as it facilitates trade and investment and reduces risks for both sides. Several European cities are currently competing for Europe's offshore trading center for the Renminbi, so the swap deal could be regarded as a vital step EU countries are taking to suit their strategy.

      There is no denying that the internationalization of the Renminbi still has a long way to go, and swap deals can not challenge the status quo of the international monetary framework with U.S. dollar at the core.

      However, we believe that the Renminbi will play a more and more important role in stabilizing the international financial system, as well as diversifying the international monetary system at large.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 一级做a爰性色毛片免费| 毛片亚洲AV无码精品国产午夜| 岛国精品一区免费视频在线观看 | 最近更新免费中文字幕大全| 亚洲乱码日产精品a级毛片久久| 色多多A级毛片免费看| 免费在线观看中文字幕| 在线播放免费人成视频网站| 亚洲av中文无码| 一级毛片免费在线观看网站| 久久精品国产亚洲Aⅴ香蕉| 一区二区三区免费在线观看| 毛茸茸bbw亚洲人| 老司机69精品成免费视频| 亚洲午夜久久影院| 一二三四免费观看在线视频中文版| 国产成人亚洲合集青青草原精品| 成人性生交视频免费观看| 羞羞漫画在线成人漫画阅读免费| 中国亚洲女人69内射少妇| 免费精品99久久国产综合精品| 亚洲高清日韩精品第一区| 无码日韩精品一区二区免费| 亚洲爆乳少妇无码激情| 亚洲 无码 在线 专区| 午夜高清免费在线观看| 日韩亚洲人成在线综合| 国产日产亚洲系列| 18勿入网站免费永久| 亚洲欧美日韩国产精品一区| 亚洲免费无码在线| 亚洲电影在线免费观看| 色偷偷亚洲第一综合网| 亚洲精品无码专区久久久| 成人免费福利视频| 午夜不卡AV免费| 亚洲精品第五页中文字幕| 国产在线19禁免费观看| 亚洲精品免费视频| 亚洲AV无码成人精品区日韩 | 成年午夜视频免费观看视频|