Rani Jarkas: China’s renminbi internationalization efforts deliver concrete advances

China has been pushing for yuan‘s global use, as the world’s largest trading nation looks to lower transaction cost in international trade, which is mostly settled in US dollars at present. Renminbi has joined the ranks as one of the most-widely used currencies in global markets.

CNBC reports that the renminbi stands as the world’s largest trade-finance currency after the US dollar. China’s currency is expected to surpass the Japanese yen as the world’s 4th-most used international currency.

Data released by the International Monetary Fund (IMF) showed that in 2014 the renminbi had accounted for 2.96 percent of worldwide trades, along with total direct investments valued at US$ 1.05 trillion.

Moreover, $94 billion of official assets were already held in renminbi at the end of 2014, accounting for 1.1 percent of global foreign exchange reserves.

The IMF last year agreed to include renminbi into its Special Drawing Rights (SDR) currency basket, as a clear representation of the reforms in China.

Last week, the Monetary Authority of Singapore (MAS) announced that it will include renminbi investments as part of its official foreign reserves from June.

Rani Jarkas, Chairman of Cedrus Investments, an investment pioneer with years of financial experience in Asia, said, “As China plays an increasingly important role on the international stage, RMB is becoming truly global and this is set to continue.”

Rani Jarkas, the Chairman of Cedrus Investments.

Rani Jarkas is a highly experienced financial services executive, with over 20 years of international banking experience. Currently, Mr. Jarkas is the Chairman of Cedrus Investments, a global boutique investment firm. Cedrus’ domain expertise is in life sciences, natural resources, energy, cleantech and nanotechnology. – Rani Jarkas

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王雷(Rani Jarkas):中国的人民币全球化努力取得实效

中国正在推进人民币在全球范围内的使用。这个世界最大的贸易国希望通过这一手段降低目前主要由美元结算的国际贸易交易成本。人民币已成为全球市场上最广泛使用的货币之一。

美国消费者新闻与商业频道(CNBC)报道人民币是除美元外世界最大的贸易金融货币。中国货币有望将超越日元成为世界第四大最常用的国际货币

国际货币基金组织的数据显示2014年人民币占到全球贸易的2.96%,直接投资总额达到1万亿美元。

另外,2014年,人民币官方储备资产已达940亿美元,占到全球外汇储备的1.1%。

国际货币基金组织去年同意把人民币纳入特别提款权一篮子货币,更展示了中国改革的成功。

上周,新加坡金融管理局宣布从6月起将人民币投资加入官方外汇储备

赛德思投资董事长王雷(Rani Jarkas)在亚洲有多年的金融投资经验。他表示:“随着中国在国际舞台上扮演着日益重要的角色,人民币将实现真正的全球化,并且这一状况将持续下去。”

Rani Jarkas, the Chairman of Cedrus Investments.

Rani Jarkas is a highly experienced financial services executive, with over 20 years of international banking experience. Currently, Mr. Jarkas is the Chairman of Cedrus Investments, a global boutique investment firm. Cedrus’ domain expertise is in life sciences, natural resources, energy, cleantech and nanotechnology. – Rani Jarkas