China's financial policy system should be further improved to gradually make it clearer, more transparent, understandable, stable, and in line with the inherent requirements of #RMB internationalization，said CF40 member Guo Kai, mp.weixin.qq.com/s/kCLviAhMXdx4… 1/5
It should be noted that the inflation targeting, the clean floating #exchangerate, and the free flow of capital generally adopted by the major reserve currency issuers are not the only institutional arrangements that meet the above characteristics. 2/5
Currency internationalization does not necessarily require the adoption of specific macroeconomic policy arrangements. 3/5
China's future monetary policy may not be single-targeted, but the framework should be easier to understand, monetary policy objectives, tools and transmission should be clearer, and smoother marketing communication and policy coordination should be maintained. 4/5
It is not necessary for China to adopt a completely clean floating exchange rate, but it is a more natural choice to further enhance the exchange rate flexibility. 5/5
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