Malaysia positive about RMB internationalization

"The strategy of internationalizing RMB is being faced with policy challenges, and it must be taken step-by-step to promote it," Malaysia's central bank vice president Sukdhave Singh said at financial seminar on Wednesday.

"The attitude of Malaysia's central bank is positive about using RMB for international trade and investment settlement. The Malaysian government will strengthen exchanges with China in economic and financial issues, promoting the development of trade between the two countries," he added.

"Many enterprises have different attitudes towards the internationalization of RMB. But, he argued, "RMB will become the world's third largest currency, and the domestic enterprises should consider more using RMB as financing options which will help save cost."