RMB, Euro and Dollar

["Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx>]

China's Foreign Exchange Administration has issued instructions to
provinces bordering foreign nations to conduct studies and report on the
impact of the widespread acceptance of RMB in neighboring econmies on
Chinese financial markets and moneatry policies.  The status of the RMB
as a preferred currency of trade is now a fact in the neighboring
countries around China, from Mongolia to Central and South East Asia.
In Russia, the RMB is welcomed as openly as the dollar.  In Mogolia, 60%
of the currencies in circulation is the RMB.

China is studying the implication of the RMB being one of the three
multi-currency global trade regime, along with the dollar and the euro
by 2010.

Henry C.K. Liu