Why does high quality development require re-starting of #RMB internationalization? #China's economy has entered new stage of high-quality development, and the financial sector must serve the real economy, according to Guo Kai
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This paper reviewed the progress of RMB internationalization &pointed out the large gap in global use between RMB & other reserve currencies. It also puts forward policy suggestions on how to restart RMB internationalization to assist high-quality development of Chinese economy-
Policies that are conducive to RMB internationalization are also conducive to high-quality development- that is (1) Efforts made to make RMB a major currency can all help promote high-quality development.
(2) RMB internationalization and the orderly opening of the capital account can go hand in hand.
(3) High-quality development is indispensable to the internationalization of RMB.
(4) RMB becoming a major reserve currency is an important indicator of China's overall national strength.
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