Thread by @ChinaFinance40

THREAD: What’s the relationship between RMB internationalization and China’s pursuit of high quality development? Policies that helps promote the global use of yuan, are policies needed to high quality development,Guo Kai CF40 member said in the 2019 Jingshan Report: 1/

Promoting the international use of RMB should become the focus of China’s ongoing financial opening and reform efforts. Good monetary, exchange rate and capital flows policies should be able to help promote the global use of RMB. 2/6

There is no timetable for RMB internationalization, and a financial policies system
that is clear, transparent, easy to understand and stable will be requirement
for this process: mp.weixin.qq.com/s/kCLviAhMXdx4…
3/6

Instead of launching specific connect programs to link the onshore and offshore capital markets, such as the #Shanghai-Hong Kong and Shenzhen-Hong Kong stock connect programs, an opening plan should be taken by using the "negative list" management method. 4/6

To improve #RMB’s function as a pricing currency, a breakthrough could be made by enhancing the role of commodities as pricing tool. 5/6

More global use of RMB will also be accompanied by the process of making Shanghai into an international financial center. When this happens one day, #Shanghai will be the center of RMB, instead of other currencies. 6/6