The yuan's status as a global currency might be gaining ground. But top CEOs see more hurdles to clear [MSNBC.com]
KASIKORNBANK PCL UNSP/ADR (KPCPY)
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Source: MSNBC.com
A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023.Athit Perawongmetha | ReutersDALIAN, China — For China'sBeijing has long touted its ambitions for increasing global use of the Chinese yuan — also known as the "renminbi" or "RMB" — in an international financial market where theU.S. sanctions on RussiaChan, speaking during the World Economic Forum's "Summer Davos" meeting in Dalian, China, noted that people hold a currency for trade, or, more importantly, as a store of wealth. "You want to have bonds, you want to have equities, etc.""One of our strategic imperatives [has] been changed to make sure that we continue to produce more RMB-denominated security products," Chan said, "so that investors around the world can actually see more applications of the RMB and be able to use those as the medium to store wealth in the form of the RMB."watch nowVIDEO3:4003:40HKEX CEO aims for more large-scale IPOs
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