Ambassador Liu Xiaoming Delivers A Keynote Speech and Answers Questions at the Webinar with UK Think Tanks On China-Europe Relations

Meghnad Desai from OMFIF: China's economy has recovered quickly following the pandemic. Does China have any plan to strengthen the status of RMB as a possible reserve currency in the near future?

Ambassador Liu: China is very committed to internationalization of the RMB. In the past decade, we have made a lot of efforts in order to facilitate trade and investment. More and more countries take RMB as not only a currency for doing trade or investment, but also use it as a reserve currency. So I'm very pleased to see that London is now playing a leading role in RMB internationalization. London now is the second largest offshore RMB clearing center, and the largest offshore RMB trading center. Hong Kong is the largest offshore RMB clearing center, and the second largest offshore RMB trading center. I think the two cities have enormous opportunities for cooperation.