China Urged to Use Yield Gap to Expand Yuan's Global Role

A researcher from a Beijing-based governmental think tank says China should seize the window opened by the widening US-China yield gap to strengthen financing, hedging and asset-absorption systems behind the yuan. The 10-year US Treasury yield was 5.22% on Thursday, compared with 1.69% for Chinese government bonds on their first trading day after the National Day holiday. The goal is to turn China's cyclical low-interest-rate advantage into lasting global use of the currency. 学者建议中国利用中美收益率差距扩大推动人民币国际化 北京某政府智库研究员表示，中国应抓住中美收益率差距扩大带来的窗口期，强化人民币融资、对冲和资产吸纳体系。10年期美国国债收益率在周四为5.22%，而中国国债在国庆假期后首个交易日为1.69%。目标是将中国周期性的低利率优势转化为人民币的持久全球使用。