Local currency to play a key role

Use in future investments will ensure stability, reduce risks, PBOC chief says

Using local currency is preferred for future Belt and Road Initiative investments, because it will help ensure financial stability and reduce currency exchange risks, according to the central bank governor.

Using local currency for investment and financing projects will be helpful in mobilizing savings and global funds and reduce the risk of exchange rate fluctuations, the People's Bank of China Governor Zhou Xiaochuan said in the central bank's biweekly magazine last week.