OECD's Gurria suggests greater role for the yuan

PARIS - The head of the Organisation for Economic Co-operation and Development (OECD) has "warmly welcomed" moves to internationalize the Chinese currency.

However, Jose Angel Gurria has also ruled out the possibility that the appreciation of the renminbi, also known as the yuan, will reduce the trade imbalance between China and the United States.

"Quicker internationalization of the renminbi could be China's contribution to rebuilding the global monetary order," said Gurria, the secretary-general of the Paris-based organization, in an exclusive interview with China Daily.