Liu calls for China to adopt a new economic strategy

A former central bank adviser suggests that China should increase imports and settle payments in yuan to help balance its foreign trade and expand the currency’s global use. Liu Shijin, a former member of the People’s Bank of China’s monetary policy committee, says that China’s trade strategy needs significant adjustments over the next five years to achieve a basic balance between imports and exports. Currently serving as the Chinese Chief Advisor for the China Council for International Cooperation on Environment and Development (CCICED), among other positions, Liu noted that China should undertake a major shift in its foreign trade strategy over the next five years. While the country adopts this change , he emphasized the importance of achieving a basic balance between what is imported into China and what it exports. Liu made these remarks during a speech last week. Liu calls for China to adopt a new economic strategy...

https://www.cryptopolitan.com/china-urged-to-use-yuan-for-more-imports/