Ex-Fed President: China can boost yuan via deeper markets

Charles Evans, former president of the Federal Reserve Bank of Chicago, suggested that China can internationalize the yuan by deepening its domestic financial markets. Speaking at the UBS Asian Investment Conference, Evans drew parallels to the evolution of the US dollar and the euro, emphasizing the importance of vibrant and deep capital markets for currency internationalization. He noted that full convertibility is a significant challenge for China, despite Beijing's ongoing efforts since 2009 to promote the yuan's overseas use. AI

RANK_REASON The article features commentary from a former central bank official on currency internationalization, rather than a new release or significant industry event.

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• Charles Evans
• China
• euro
• Federal Reserve Bank of Chicago
• yuan
• UBS Asian Investment Conference
• US dollar

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