China News Agency, Beijing, June 22 (Reporter Chen Kangliang) Former Governor of the People's Bank of China Zhou Xiaochuan said at the "Caixin Summer Summit 2020" on the 22nd that under the current circumstances, the joint construction of the "Belt and Road" is facing a favorable condition: global funds Ample, low capital prices are good opportunities for financing and optimizing existing financing.
Regarding the issue of jointly building the “Belt and Road” during the new coronary pneumonia epidemic, Zhou Xiaochuan said that under the impact of the epidemic, the international community currently has different comments on the “Belt and Road” initiative. Positive comments include combating the epidemic through international cooperation, etc. The joint construction of the “Belt and Road Initiative” has also made the international community more aware of the importance of infrastructure, including network infrastructure, etc.; The amount of financing has been reduced.
Zhou Xiaochuan believes that this is normal. Because of the traffic jam caused by the epidemic, the crowds cannot gather, and the "social distance" between people must be maintained, so many technical personnel cannot be in place, which affects the progress of some projects in the construction of the "Belt and Road". However, there are still high-quality projects progressing well in the epidemic, such as the "China-Laos Railway" in China and Laos.
Regarding renminbi internationalization, Zhou Xiaochuan said that the current view of renminbi internationalization is a relative issue. It has a complementary relationship with other currencies in international use options, the most important of which is the US dollar. If US policy weakens confidence in the use of the US dollar and prompts everyone to choose other currencies for trading, this will provide more opportunities for other currencies. Therefore, this first involves the economic stability of the United States, including whether there will be another round of economic crisis or financial crisis, and also involves that some major congresses will not use currency to impose sanctions on transactions of other countries. These all affect the internationalization of currency. feasibility.
Zhou Xiaochuan further pointed out that the internationalization of RMB also involves the flow of global capital. The way, direction and degree of global capital flow will also influence the choice of currency. Generally speaking, if China can patiently do its own reform and opening up, the internationalization of the RMB will gradually move forward, and there is no need to rush to achieve success. (Finish)