We should have a better system for reserve currency issuance and regulation, so that we can maintain relative stability of major reserve currencies exchange rates and promote a diversified and rational international reserve currency system

—Dai Bingguo, said Chinese state councillor at the G8, according to the Chinese foreign ministry, via FT

There may come a time in the future when we think that a small, modest exposure to the renminbi – notwithstanding it being a non-convertible currency still – may be something that we may pursue. But we don’t have any plans at this moment, any concrete plans… A bit of diversification won’t hurt us.

Joseph Yam, chief executive of the Hong Kong Monetary Authority

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