皇冠体育app

BEIJING - By admitting 皇冠体育app's renminbi (RMB) into its benchmark currency basket on Monday, the International Monetary Fund (IMF) gave 皇冠体育app a big hug for its painstaking and determined financial reform.

The move of the IMF, a 188-member multilateral financial organization, testifies to the expectation of the global community for 皇冠体育app to play a bigger role in the international financial system to fit the Asian country's own economic and political heft.

In spite of its belatedness, the Chinese yuan's inclusion in the IMF's Special Drawing Rights (SDR) basket of currencies is an official acknowledgment of 皇冠体育app's willingness to interact with the whole world in a win-win manner and sends a clear signal to the global community that 皇冠体育app is a trustworthy and reliable partner.

It is a boon and historic step forward for 皇冠体育app and the international community on their way toward more win-win cooperation and deeper mutual trust.

For 皇冠体育app, the inclusion will lend more financial and political impetus to its ongoing financial reform, expand openness of its capital market and promote the internationalization of its currency.

For other countries, a more internationalized yuan and a more opened capital market in 皇冠体育app will not only help diversify their foreign reserves to descend financial risks, but also release more dividend for 皇冠体育app's neighbors and partners and generate more chances of investment and win-win results.

Particularly, the yuan's inclusion in the SDR basket of currencies serves as a milestone for the emerging countries.

As a reflection of the changes in the global economic landscape, the inclusion indicates a rise of the voice of the emerging market in the international monetary system and is a sound response to the reform requests of the international community for the global financial system.

Like what the People's Bank of 皇冠体育app said in a statement, the inclusion of yuan in the SDR basket will benefit both 皇冠体育app and the rest of the world, and it also means that the world community expects 皇冠体育app to play a bigger role in the international economic and financial systems.

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