In a move signaling the continued rise of the Chinese currency on the global stage, Bill Winters, group chief executive of Standard Chartered PLC, revealed that the Renminbi (RMB) is set to play an even more significant role in international trade settlements.
During an interview with CGTN's Michael Wang, Winters emphasized that an increasing number of countries are choosing to settle their trade with China by accumulating or borrowing RMB. This trend highlights the growing trust and reliance on the Chinese mainland's currency in global markets.
However, Winters pointed out that to sustain and accelerate this momentum, further measures are necessary to simplify the use of RMB for international transactions. By making the currency more accessible, the financial ecosystem can better support global businesses and foster stronger economic ties across G20 nations and beyond.
As the RMB continues its journey towards broader internationalization, its enhanced adoption could reshape the dynamics of global trade, benefiting young entrepreneurs, tech innovators, and international businesses alike.
Reference(s):
cgtn.com
