The head of the Central Bank of China is waiting for a new currency order to challenge the dollar

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The Central Bank of China said that a new global currency order, which reveals the reninbli, which competes in the “very polarized international currency system” after the domination of decades of the US dollar, he said.

Speaking at the Chinese flagship finance forum in Shanghai, Pan Gongsheng said that US dollar has established “referee” and “so far.” He warned about “excessive trust” in one currency.

“In the future, the global money system can continue to compete with each other in several sovereign currencies, and to check each other with each other and balance each other,” he said renminbi.

The pan for the last two decades has been the rise of Renminbi’s rising and Renminbi’s rising and Renminbi have a global financial crisis in 2008.

Renminbi noted that he is the world’s largest trading finance currency and the third largest payment currency.

After the president of the European Central Bank, Christine Lagarde came a day later a day later, “the dominant role of the dollar” created an opening for the euro to buy “global glory” “no longer ‘.

Pan’s comments also show immediately updated in the prominent push-ups for China’s “Multi-Pole” currency The system collided as China Trade and Donald Trump applies higher tariffs.

Beijing and Washington, with an increase in April, entered a fragile reconciliation in reducing the tariff level, but the tensions remain under a new leadership of international trade.

“In the event of geopolitical conflicts, national security interests or even wars, the international dominant currency is easily encouraged and armed,” he said.

Pan and Lagarde came together to sign a memorandum of understanding on cooperation in Central Banking, which includes a framework for regular dialogue last week in Beijing.

The pan and discussions around the use of more SDRs – a potential alternative to the basket of the IMF and the Current Currency, which can help “repel the specific problems of a single sovereign currency in a single sovereign currency”.

In Shanghai, China’s China’s China, including the International Operations Center, has overlapped with numerous ads related to PUSH.

Singapururan Bank OCBC and Kyrgyzstan, including the third largest lender, said that the Six foreign enterprise, China’s Swift global payment system will be connected to the Border-free China’s Border Banner payment system (CIPS).

Hong Kong and Shanghai authorities have also signed an “Action Plan” to strengthen financial ties, including the management and allocation of reninth-denominated assets.

Zhu Hexin, PBOC Governor Assistant and Deputy Director of the Foreign Currency Administration, Beijing, said that local investors will expand a scheme that allows local investors to get active outside China. ZHU, the expansion of a qualified internal institutional investor scheme “will implement the growing needs for investment in the sea,” he said.