www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

Wen: RMB yet to become int'l currency

(Xinhua)
Updated: 2009-09-12 00:48

DALIAN: Chinese Premier Wen Jiabao said it still takes time for Renminbi (RMB), the Chinese currency, to fully become an international currency.

Related readings:  Chinese premier reiterates adherence to current money policies   China to float 6b yuan renminbi bonds in HK   Renminbi trade rule comes into effect  Wen: Keep the renminbi exchange rate stable

The status of RMB has been enhanced on the global market, but it is only convertible under the trade account, not under the capital account, he said on Thursday, when answering questions at an entrepreneur symposium after delivering a speech at the opening ceremony of the Summer Davos in Dalian.

"We need to have a correct view of ourselves when pushing forward the internationalization of RMB," Wen said.

He said China has started to settle cross-border trade deals in RMB in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan.

China's State Council, or Cabinet, announced in April a pilot program to allow exporters and importers in the five cities to settle cross-border trade deals in RMB.

China has signed currency swap agreements with some countries with a totaling 650 billion yuan (US$95.5 billion), which also helps to lay a foundation for the RMB internationalization, he said.