Internationalized yuan to take time

中国金融官员称人民币国际化不应操之过急

China should promote the internationalization of the yuan in a pragmatic fashion and at a controllable pace, foreign exchange officials said Sept. 15.

Progress may be slow in the early stages, but will accelerate once trading and settlement arrangements are in place, said Fang Xinghai, director of the Shanghai Finance Office.

The yuan will not replace the U.S. dollar as the world's primary reserve currency or enjoy similar international status as U.S economic strength will continue to grow, he said.

“现在我们要做的，就是让那些愿意用人民币进行交易的公司机构，不要受到体制的限制，为他们打通渠道。”方星海说，至于市场在多大程度上会选择人民币，这并不取决于货币当局的意志。

The untranslated part left out of the English summary says that the government will open channels for trade companies to use renminbi, and the market will decide to what extent the currency is used, not the monetary authorities.