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27 February 2023, 16:55

Ambassador: China is ready to contribute to creation of new international financial system


MINSK, 27 February (BelTA) – China is ready to join efforts with other countries to develop a new international financial system that will be more stable and reliable than the existing one, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the Republic of Belarus Xie Xiaoyong told BelTA.

The head of the Chinese diplomatic mission noted: “In order to mitigate the far-reaching consequences of the USA's abuse of its financial hegemony, many countries around the world are actively exploring the possibility of de-dollarization and promotion of settlements in national currencies within the framework of the EAEU, SCO, BRICS and ASEAN.”

“In this context, the Chinese yuan is playing an increasingly important role in the international arena. China has proved to be a responsible state that has the will and determination to maintain the stability of the yuan. An increasing number of countries, including Belarus, included the yuan into their foreign exchange reserves, and the yuan became a safe-haven currency recognized by a large number of countries,” Xie Xiaoyong said.

According to the diplomat, China remains steadfast in its determination to promote national currencies in bilateral exchanges and settlements between central banks, to help other countries and regions to expand the use of the yuan in local foreign currency markets, and to keep working on an international settlement system.

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