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Home / South China Morning Post / Chinese yuan to become No 3 global currency by 2030 after US dollar, euro, Morgan Stanley predicts

Chinese yuan to become No 3 global currency by 2030 after US dollar, euro, Morgan Stanley predicts

Summary:
[unable to retrieve full-text content]The yuan will gain considerable influence over the next decade as China opens its financial markets wider and moves to reduce its reliance on the US dollar, according to a Wall Street bank.Morgan Stanley analysts led by Robin Xing wrote recently that global investors will flock to China for yuan-denominated financial assets, and that the value of portfolio investments could reach US trillion by 2030. The total foreign holdings of Chinese onshore bonds totalled 2.8 trillion yuan (US9…

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[unable to retrieve full-text content]
The yuan will gain considerable influence over the next decade as China opens its financial markets wider and moves to reduce its reliance on the US dollar, according to a Wall Street bank.Morgan Stanley analysts led by Robin Xing wrote recently that global investors will flock to China for yuan-denominated financial assets, and that the value of portfolio investments could reach US$3 trillion by 2030. The total foreign holdings of Chinese onshore bonds totalled 2.8 trillion yuan (US$409…

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