Cautious approach can eliminate currency risks

A leading finance expert has warned China about the risks of turning the yuan into a global currency while pursuing the Belt and Road Initiative.

Song Min, a respected finance professor and director of the Center for China Financial Research at the University of Hong Kong, told China Daily at the week-end of the pitfalls associated with the policy.

"It is fine to take the Belt and Road Initiative as a grand, long-term strategy, but we should be cautious and guard against impetuosity," Song said on the sidelines of China Wealth Forum in Qingdao, Shandong province.