IMF reform 'set to raise renminbi's global profile'

Use of the renminbi will be broadened internationally after ratification of the 2010 quota and governance reforms of the International Monetary Fund by the US Congress, according to experts.

The reform plan, ratified on Friday, will double the IMF's quota resources, or special drawing rights, while shifting 6 percent of the quotas to dynamic emerging markets and developing countries.

China's quota will increase from 3.996 percent to 6.394 percent, making the country the third-largest shareholder in the IMF - up from sixth - and enabling it to play a bigger role in decision-making in global financial governance.