South China Morning Write-up reporting reviews from the PBOC deputy governor Yi Gang, commenting on convertibility of its currency and global trade barriers.
Key Quotations through Bloomberg:
“We have to operate on removing existing barriers for the internationalisation of the renminbi so that we can make the renminbi a freely useable currency”
Renminbi trade amount reform will be a “market-pushed” system centered on the demands Chinese companies and homes.
The PBOC intends to allow “much better assistance for offshore renminbi transactions” which include a lot easier payment infrastructure and issuance of much more licenses for foreign institutions to underwrite and settle renminbi-denominated bonds, also acknowledged as “Panda bonds”