Skip to content

Xinhua: Western Media Misinterpret China’s Statement on U.S. Dollar

The New York correspondent of Xinhua reported on April 2, 2009 that some Western media have wrongfully interpreted the March 23 statement by China’s central bank as a challenge of the U.S. dollar. The People’s Bank of China released this statement by Zhou Xiaochuan, the central bank’s governor, on March 23, 2009. It calls for replacing the dollar as the dominant world currency and creating "an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run." 

Source: Xinhua, April 2, 2009