China central bank: yuan’s global acceptance to be driven by market

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The internationalization of the yuan has exceeded people’s expectations and its global acceptance will be driven by market forces, Yi Gang, a China central bank vice governor, said on Monday.

China will continue to reform its bond market as major international institutions look to issue debt denominated in special drawing rights (SDRs), Yi also told a news conference.

(Reporting by Sue-Lin Wong; Editing by Kim Coghill)

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