China seeks "reasonable" monetary system: central bank adviser

BEIJING (BestGrowthStock) – China wants a more “reasonable” global monetary system, but its objective in seeking reform is not to replace the dollar with the yuan, an academic adviser to the central bank said on Tuesday.

Li Daokui, who sits on the monetary policy committee of the People’s Bank of China, also said that reform of the global monetary system should be gradual. Speaking to forum in Beijing, he reiterated the government’s long-standing call for stability of major currencies.

(Reporting by Aileen Wang and Simon Rabinovitch; Editing by Ken Wills)

China seeks "reasonable" monetary system: central bank adviser