Head of China's forex regulator, the State Administration of Foreign Exchange (SAFE)
- Says yuan internationalisation faces new opportunities and challenges
- yuan internationalisation should be market-driven, cannot be accomplished overnight
- will push forward cross-border use of yuan in trade and investment
- will make it easier for foreign investors to use yuan to invest in China's bond and stock markets
- will further develop financial products in offshore yuan markets and provide necessary liquidity support
- will step up monitoring of cross-border capital flows to prevent risks
Writing in a People's Bank of China publication.
