PBOC’s Yi: Belt & Road projects are encouraged to cut problems associated with exchange rate fluctuations

China Daily reporting comments from Yi Gang, deputy governor of the People's Bank of China (PBOC), on Belt and Road projects.

Separately, PBOC governor Zhou Xiaochuan was seen on the wires, noting that the Belt and Road project is in line with European Bank for Reconstruction and Development (EBRD) strategy.

Key Points:

Belt and Road projects are encouraged to use local currencies in investment and finance to cut problems associated with exchange rate fluctuations

"Although infrastructural projects along the routes tend to have a longer investment horizon, most are commercially profitable. The financial institutions operate under market rules"

"Financial cooperation will enable China and countries along the routes to open and integrate further in a broader scope"