China will soon boost the use of the IMF's Special Drawing Rights (SDR) unit by starting to report banking sector foreign exchange assets, including foreign exchange reserves, both in dollar terms and in terms of the SDR, the country's central bank chief said Thursday.
China will also consider issuing SDR-denominated bonds domestically, Zhou Xiaochuan, the governor of the People's Bank of China (PBOC), said at a meeting of finance ministers and central bankers in Paris, domestic news portal ifeng.com reported Thursday.
The comment from Zhou, a long-time supporter of reducing reliance on the dollar, showed efforts by China to boost the role and use of the SDR, the ifeng.com report said.
Zhou also urged an expanded role for the SDR in the international monetary system and more use of the SDR to ensure stability. The yuan was approved in November 2015 by the IMF to be included in the basket of SDR currencies.
