With the sound development of China's economy, the international status of RMB has become increasingly prominent. The process of RMB internationalisation has been accelerated. At the same time, because the Federal Reserve’s aggressive interest rate hikes, banking crises and economic recession risks continue to amplify the risk of US dollar credit overdrafts. Many countries have to accelerate measures to deal with the impact of US financial risk spillovers on other countries. More and more countries choose to join the team of "de-dollar", and now the international currency settlement is increasingly showing a trend of diversification. The diversification of currency settlement also provides impetus for the orderly advancement of RMB internationalisation.
China's multipronged pushes for innovation will accelerate productivity growth and give rise to more emerging industries, economists and executives said.
Innovation to help fuel high-quality development--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.