Xi Jinping calls for China’s renminbi to attain global reserve currency status

FT ^ | Jan 26 | Joe Leahy

[delta7]

Latest commentary details ambitions for ‘powerful currency’ to play a greater role in trade and forex.

.....Xi Jinping has called for the renminbi to become a global reserve currency, in some of his clearest comments on his ambitions for China’s currency as Beijing seeks to play a greater role in the international

The publication of Xi’s comments comes amid heightened uncertainty in global markets as a weaker US dollar — which President Donald Trump last week called a “great” development — a change in leadership of the Federal Reserve and geopolitical and trade tensions have prompted central banks to rethink their exposure to dollar assets.

The renminbi has become the world’s second-largest trade finance currency since Russia’s full-scale invasion of Ukraine in 2022, but it plays a limited role in official reserves. As of the third quarter of 2025, the dollar accounted for about 57 per cent of global reserves, down from 71 per cent.

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TOPICS:
KEYWORDS: china; currency; money

[delta7]

As forecasted, this is going to get interesting.

[OpusatFR]

It should get interesting since the rule of law, torts and contracts is whatever Xi and his cohorts say it is.

[pierrem15]

And how does he propose to do that without running massive trade deficits for renminbi to be held by foreigners?

The US dollar became a reserve currency when the US gave away 4% of its GDP every year for a few years to Europe to pay for oil imports and imports they needed to rebuild their economies.

Unless Xi is talking about large scale loans that are forgiven, this seems scarcely plausible.

[Skywise]

Such biased reporting. I’m old enough to remember the 80s and 90s when we wanted a “cheap” US dollar to increase investment in the US.

[CandyFloss]

delta7 said:

"As forecasted, this is going to get interesting."

Who made that forecast? If it's one of those anonymous cycle guys, how do you know it's reliable?

Honest question: What source are you using for these predictions? I really don't get how people keep falling for the same timed calls that never hit.

[House Atreides]

Global reserve currency status?

OK, Xi, WAIVE THE MAGIC WONG.

[Poison Pill]

As forecasted

You and your forecasts. When do your "forecasts" tell you that China runs a trade deficit?

[Attention Surplus Disorder]

Yeah, no.

[delta7]

Massive Gold Reserves. Many familiar have stated China has amassed over 20 tons, as high as 28,000 tons “ off the books”, compared to our 8,300 tons. Time will tell.

Laugh it off, but realize China ( not the corrupted US Crimex) is now moving to determining the free market price of Silver.

Fire away!

[Raycpa]

If true and known gold is overpriced today.

[butlerweave]

China is falling apart

[butlerweave]

Xi Jinping’s Gold Bubble is crushing his head

[delta7]

After the West’s PM smack down, the price of the investment gold bar price on China’s largest e-commerce platform JD.com ....The gold bar is equivalent to $5720.79/oz, and the silver bar is equivalent to $163.35/oz.

We shall see what the PM’s do on market open in 2 hours ( 1800 Sunday night). That said, China’s PM market seems way overbought, but then it is based on industrial demand and world shortages.

[decal]

“...he rule of law, torts and contracts is whatever Xi and his cohorts say it is.”

So when do they become district judges in this country?

[Degaston]

250+ years of Freedom of Speech and lots of avenues for people to seek justice has bad its impact on global commerce. Until the Beijing regime has a well established track record of following suit they just aren’t going to see people making big long teem beta on their economy, assets, and currency. The risks of manipulation screwing over investors is just too high.

[Vermont Lt]

Did Xi say this as he was dodging bullets and knives from the PLA leadership?

China is a mess. And with a 17% birth rate drop…they will continue to be a mess for a while. I think we can move the invasion of Taiwan back a couple of years.

[webheart]

No chance. How do you say “In God We Trust” in Chinese? I think that US currency is the only currency in the world that says that on it.

[dpetty121263]

For the moment....Every Empire has a season...

[dpetty121263]

39 trillion dollars national debt says otherwise...

[TexasGator]

“Many familiar have stated China has amassed over 20 tons, as high as 28,000 tons “

You and the other pimps keep rewarming that same mantra.

Just like the false scare that JPM held massive silver shorts that would ruin them when in fact JPM held a massive amount odpf silver bullion and ZERO shorts.