China’s central bank, the People’s Bank of China (PBOC), said steady economic growth and rapid advances in high-tech industries provided strong support for yuan-denominated assets. (EPA Images pic)BEIJING: China's central bank governor pledged to further open up the country's vast financial markets, saying yuan assets can meet the growing diversification needs of global investors.
Pan Gongsheng noted rising geopolitical risks, profound changes in the global economic landscape and rapid advances in AI.
"China’s steady economic growth, and rapid development of high-tech industries provide solid support for RMB assets," a People’s Bank of China (PBOC) statement quoted Pan as saying in a Thursday speech given on the sidelines of the annual meetings of the International Monetary Fund and the World Bank.
