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Expert: China’s yuan may become 3rd world reserve currency along with US dollar and euro

March 23, 11:41 UTC+3 BEIJING
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BEIJING, March 23. /ITAR-TASS/. China’s yuan (renminbi) may become a third reserve currency in the world in the future, Managing Director and Chief Economist of investment company Sberbank CIB Yevgeny Gavrilenkov said at the 15th governmental Chinese economic development forum in the Chinese capital on Sunday.

“This forecast can be made on figures of domestic economic growth. Probably the country will keep high GDP growth rate and the GDP volume will increase to around 14-16 trillion U.S. dollars for a brief period of time, the indicators comparable to the European Union and the United States. Meanwhile, Chinese securities are more attractable for the countries that have a surplus in economy, particularly the Middle East states, and China will obviously follow the path of securing the country’s assets,” the expert noted.

The forum which opened in the Chinese capital on March 22 discusses a broad range of issues of economic reforms and China’s stronger role as the second largest world economy. First Deputy Prime Minister of the Chinese State Council Zhang Gaoli, Managing Director of the International Monetary Fund Christine Lagarde and top managers of major world corporations participate in the forum as honorary guests.

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