China to work with Asian peers to boost use of local currencies in trade

 

BEIJING : China will work with Indonesia and other Asian countries to promote the use of local currencies in trade and investment, the People's Bank of China Governor Yi Gang said on Wednesday. 

In recent years, emerging Asian countries have made a substantial progress in using local currencies in trade and investment, which boosted their economic resilience to cope with eternal shocks, Yi told a G20 event via video.

China will keep its accommodative monetary policy flexible, Yi added.