The Research Proposal Meeting of "Equilibrium Research on RMB joining SDR, a Basket of Currency Valuation and China’s Macroeconomy" Project was Held Successfully

In the morning of March 25, 2017, the research proposal meeting of the "Equilibrium Research on RMB joining SDR, a Basket of Currency Valuation and China’s Macroeconomy" project, a National Social Science Fund major research project, was held successfully in Wuhan University, Professor Peng Hongfeng serves as the project chief expert.

National Social Science Fund Major Project is currently the most authoratitive project at the highest level in the domain of humanities and social science with the largest amount of funding.

Professor Peng Hongfeng first elaborated on connection and difficulties of RMB joining SDR and RMB internationalization, the difficulties of the reform of RMB exchange rate formation mechanism, and further expounded on the innovation and research ideas, research contents and research objectives and key issues of the project. Associate researcher Xiong Qiyue analyzed the macroeconomic effect of RMB joining SDR. Professor Jiang Chun added the specific research ideas of RMB joining SDR, and the expert group pointed out that the RMB’s participation in SDR has had an important impact on the international monetary system. China should learn from the experience of other countries to strengthen the mechanism design at technical level.