Head of China's pension fund seeks expanded role for yuan

04/3/2012 | Wall Street Journal, The

Dai Xianglong, chairman of China's national pension fund, said the yuan should have a larger role in the global monetary system. "In my view, the renminbi's internationalisation not only means it will become a global currency for trade settlement and investment but also means it will become an international reserve currency," said Dai, formerly head of the People's Bank of China.

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