Zeng for vigil on reserve currency nations

Former Chinese Vice-Premier Zeng Peiyan on Friday called for a new mechanism to maintain the stability of the major reserve currencies and tighter vigil on countries issuing reserve currencies.

Zeng, who is the head of China Center for International Economic Exchanges (CCIEE), said at the Global Think Tank Summit in Beijing that the measures should be part of the efforts to improve the global financial system.

Under the current international currency framework, he said, "your currency is likely to become my problem".