Central Bank of China has allowed companies to use yuan in foreign trade transactions. This was reported in a statement published on the website of the regulator. So the bankers are trying to reduce the dependence of national importers and exporters from the dollar.

Companies from China and neighboring countries face a relatively high risk of fluctuations in exchange rates due to fluctuations in the dollar, euro and other major currencies, - the report says.

Under the new scheme, transactions using the yuan allowed companies to Shanghai, and 4 cities in the southern province of Guangdon, the power to make such transactions, and companies from other countries, operating through Hong Kong and Macau.

This is the first step of China to make the yuan global, - said Shi Lei, analyst of Bank of China Ltd. According to experts, it will protect exporters from exchange fluctuations and increase the role of the yuan in the international monetary system.

Recall earlier Guanpin Zhang, an official of the Shanghai Branch of China Banking Regulatory Commission, said that the yuan can achieve the status of world reserve currency by 2020. According to officials, this year the proportion of the yuan in the world currency reserves may exceed 3%.

He Yafei, Chinese Deputy Foreign Minister, denied the information that representatives of the Chinese delegation at the July summit of the leaders of the Group of Eight plan to once again raise the question of waiver of the dollar as the world's main reserve currency.

At the same time, on Tuesday, June 16, leaders of China and Russia during a meeting of representatives of BRIC called for a more diversified financial system in which developing economies have a great opportunity. Includes discussion and an alternative to the dollar as the main reserve currency.

Recall that at the summit of the Shanghai Cooperation Organization in Yekaterinburg, Russian President Dmitry Medvedev said that the SCO members should make more active use of estimates in national currencies. In addition, in the perspective of the Russian President did not rule out the transition to supra-national means of payment.

A June 5, Medvedev expressed doubts about the reliability and the prospects for the dollar as the world's main reserve currency. Medvedev proposed to abandon the U.S. currency in favor of the ruble or supranational currency.

Since then Russian Vice Prime Minister, Finance Minister Alexei Kudrin said that, on the contrary, the U.S. is in good shape and the urgent need to replace it as the world reserve currency is not.

Formerly head of the Chinese central bank Zhou Syaochuan called for the creation of a new currency to gradually replace the dollar as a world-class standards.

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