To avoid the inherent deficiencies of using sovereign currencies for reserves, there’s a need to create an international reserve currency that’s delinked from sovereign nations…Special drawing rights of the IMF should be given full play, and the international body should manage part of its members’ reserves…The excessive reliance on the credit of several sovereign currencies have added to the extent of risks and crises. A currency with stable value in the long term is required.
PBOC via Bloomberg