(Yicai Global) April 28 -- China will continue promoting yuan internationalization for freer and more convenient trade and investment, said Fan Yifei, vice president of the People's Bank of China (PBOC).
Fan Yifei said this in a keynote speech to the RMB Global Cities Dialogue in Sydney, Australia yesterday.
The market drives yuan internationalization, but it also results from China's financial market reform and opening and foreign financial cooperation, Fan stressed. Yuan internationalization is a long-term goal in which market forces will prove decisive.
China will persist with comprehensive measures to ward off financial risks and is fully confident of achieving annual economic growth targets and preserving financial stability, Fan added.