Latest News:  

English>>Business

Australia supports RMB internationalization: Treasurer

(Xinhua)

08:06, March 13, 2013

CANBERRA, March 12 (Xinhua) -- Australia is providing active support for the internationalization of Chinese Renminbi (RMB), Deputy Prime Minister and Treasurer Wayne Swan said Tuesday.

Speaking at the Australian China Business Council (ACBC)'s Canberra Networking Day, Swan announced that Australia is expected to host the inaugural Australia-Hong Kong RMB trade and investment dialogue next month.

Swan said RMB-denominated trade settlement reached almost 3 trillion RMB in 2012, up 42 percent in just one year. In addition, the latest data shows the value of RMB payments more broadly increasing by a massive 171 percent since January 2012.

"There's a significant opportunity here...Tapping into this is just one of the policy pathways of the Asian Century White Paper that the government is working on," Swan said.

He also said that Australian Treasury and the Reserve Bank of Australia have been working closely with the People's Bank of China to set up direct trading between the RMB and the Australian dollar.

We recommend:

Japanese brands search for rebound

Inflation rebounds to 10-month high in Feb.

Halt urged to rising luxury goods prices

China well on way to being largest oil importer

Energy trade surplus for US

China seeks economic transformation


Email|Print|Comments(Editor:LiangJun、Zhang Qian)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Navy's landing ship detachment in training

  2. Warships in 'Peace-13' joint military exercise

  3. Maduro as Venezuelan presidential candidate

  4. China's five-decade efforts of turning green

  5. 2,800 dead pigs found in Shanghai river

  6. Modern life of Chinese elderly

  7. Fan plans simple for this band

  8. Old photos: Shexian county in 1996

  9. Pre-owned house sales soar

  10. Lu named Alibaba's new CEO

Most Popular

Opinions

  1. Bigger does not always mean better for megacities
  2. Railway ministry revamp will not impact ratings
  3. Active yet prudent urbanization needed for China
  4. China's dating TV show inspires copycat in Chicago
  5. Int'l influence of Chinese films improving
  6. Peking Opera education should start early
  7. Fake 3D triggers resentment
  8. Technology transforms art sharing
  9. Books for youngsters' the fastest-growing genre
  10. Life of the never-touch-a-pan generation

What’s happening in China

Year's first rainfall for Beijing

  1. Epidemic ruled out as cause of dead pigs
  2. Driver hit with intense pain manages to stop bus
  3. Kidnapper gives in after 4-hour standoff with police
  4. Man who kept woman in dog's cage on the run
  5. Man threatens to jump from bridge in S China