---
title: "Xi Jinping calls for China’s renminbi to attain global reserve currency status"
type: "post"
post_id: "12778"
slug: "xi-jinping-calls-for-chinas-renminbi-to-attain-global-reserve-currency-status"
canonical: "https://pennyforyourthoughts2.ca/2026/02/03/xi-jinping-calls-for-chinas-renminbi-to-attain-global-reserve-currency-status/"
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published: "2026-02-03T15:14:01+00:00"
modified: "2026-02-03T15:14:01+00:00"
author: "penny2"
categories:
  - "Uncategorized"
tags:
  - "China"
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**Saved this the other day, but, didn’t get it posted. What’s interesting about it? Xi Jinping makes a speech two years ago that is suddenly noticed in 2026.** **The timing is interesting for sure**

[**Financial Times**](https://www.ft.com/content/c948b978-c22b-44b7-ba3d-4798e641e673)

> **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 monetary system.** In commentary published on Saturday in Qiushi, the ruling communist party’s flagship ideology journal, China’s president said the country needed to build a “powerful currency” that could be “widely used in international trade, investment and foreign exchange markets, and attain reserve currency status”.

> **China’s leadership has long sought to promote the internationalisation of the renminbi.** But the comments marked Xi’s clearest definition yet of his goal of a “strong currency”, as well as the broader financial foundations

> Beijing will need to build to support it. These include a “powerful central bank” capable of effective monetary management, globally competitive financial institutions and international financial centres able to “attract global capital and exert influence over global pricing,” Xi wrote.

##### **The comments were originally part of a speech Xi delivered in 2024 to top regional officials, but had not been released publicly until this week.** 

**So, why is financial times reporting on this 2024 speech at this time?**

> **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.** ***“China senses the change of the global order more real than before,” said Kelvin Lam, senior China+ economist at Pantheon Macroeconomics. Xi’s emphasis on the renminbi reflected “recent ruptures in the global order”, he added.***

**Caught my eye..**