Central banks up reserves of RMB to a high
1 2021-07-02 08:56:22China Daily
Editor : Mo Hong e
ECNS App Download
A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. （Photo/China News Service）
5-year record shows Chinese yuan s internationalization progressing well
Central banks around the world are holding record levels of reserves in Chinese yuan, according to IMF data.
Analysts said the current five-year high marks another step forward for the Chinese currency s internationalization, a process that began a few years back.
In the first quarter this year, various central banks held $287.46 billion worth of Chinese RMB in official foreign exchange reserves, the highest level since the fourth quarter of 2016 and representing 2.45 percent of the total, the International Monetary Fund reported on Wednesday.
Reuters
China’s rejuvenation is finally within grasp and any attempt to bully the nation will be met with a steely response, President Xi Jinping said on Thursday (July 1) in a spirited speech marking the Communist Party’s centenary.
For the first time, the ruling party celebrated its anniversary in central Beijing’s Tiananmen Square – a location reserved for the most important national events.
Flanked by other party leaders both past and present, Xi, the most powerful leader in decades, stepped up to the rostrum at the Gate of Heavenly Peace to address the nation.
In an hour-long speech, Xi hailed the achievements China has made under the communist leadership.
USHCA
Ford Foundation and Henry Luce Foundation lend support to US Heartland China Association
It is our conviction that U.S.-China partnerships and collaboration are absolutely critical if our planet is to be able to successfully address the most significant global challenges of our time” Bob Holden, former Governor of Missouri, Chairman and CEO of USHCAJEFFERSON CITY, MISSOURI, UNITED STATES, July 1, 2021 /EINPresswire.com/ “We are thrilled that both the Ford Foundation and the Henry Luce Foundation have awarded our organization grants to maintain the momentum of our important work building bridges and understanding between the American Heartland and China,” Bob Holden, former Governor of Missouri, Chairman and CEO of the United States Heartland China Association (USHCA) announced.
Chinaâs communists guard their future from the past
As they celebrate their partyâs centenary, Chinaâs leaders remain obsessed with the fate of the Soviet Union and its political reforms. They study history to avoid a repeat.
Peter Cai
Save
Share
The Chinese Communist Party (CCP) has just celebrated its 100thâ¯birthday this week, making it one of the longest surviving communist parties in the world â and certainly the most successful one.
Although the partyâs confidence is at its peak, the collapse of the Soviet Communist Party still haunts the Chinese leaders.
Xi Jinping looms over everything. Â
Central banks up reserves of RMB to a high-Eastday eastday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eastday.com Daily Mail and Mail on Sunday newspapers.