B&R to boost use of renminbi in global trade

The Chinese yuan's status as an international reserve currency and its use in global trade and investment is expected to get a further boost from the country's Belt and Road Initiative, central bank officials said.

Germany's central bank has decided to include the renminbi in its currency reserves, according to Andreas Dombret, one of the board members of the Bundesbank, who gave a speech at the Asian Financial Forum in Hong Kong on Monday.

He said the yuan is used increasingly as part of central banks' foreign exchange reserves around the globe.