RMB maintains firm global footing

Reform expected to improve usage of the currency internationally

The Chinese currency kept its position as the world's fifth most active currency for domestic and international payments in June, despite its short-term weakening against a stronger US dollar, according to a monthly tracker from a global financial information platform.

The continual reform toward a more market-based and flexible foreign exchange regime, along with further opening-up of China's financial sector, is expected to improve the renminbi's international usage, said experts, as the renminbi's exchange rate will float closely around the equilibrium level.