A prominent economist has stated that China’s growing global investment activities are driving the internationalisation of the Chinese yuan. Xiang Songzuo, former chief economist at the Agricultural Bank of China, anticipates the government will implement further support measures to facilitate cross-border transactions. He believes increased investment by Chinese entities will significantly bolster the yuan’s role in international commerce. The economist suggests these actions will likely include strengthening financial infrastructure and promoting wider adoption of the currency.
Credits: News – South China Morning Post
