yuan’s inclusion in the International Monetary Fund’s elite reserve currency basket on Saturday was hailed by Chinese businesses and analysts as a “historic moment.”


“Ten years ago Tampa Bay Buccaneers Hats , the yuan could hardly go out of the country. But now China’s opening-up and huge economic size has made it more and more popular in the international market,” said Lu Jian, vice president of Guangdong Guangken Rubber Group Co Ltd.


Early this year, Guangken Rubber launched a US$270 million bid for Thailand’s Thai Hua Rubber, the world’s third-largest rubber producer.


The company then sought loans from domestic and overseas banks Tampa Bay Buccaneers T-Shirts , with some offering to fund its bid in yuan.


The acquisition in yuan helps reduce foreign exchange risks as well as fund-raising costs, said Lu.


“Ten years ago, all our overseas business was conducted in the US dollars and we often did not have yuan clearing banks. It’s quite a different scenario now,” he said.


Today, China has 21 overseas yuan clearing banks across the world.


“Despite the fluctuations in the exchange rate Tampa Bay Buccaneers Hoodie , the international market has not lost interest in the yuan and on the contrary, global demand is increasing,” Lu said.


On Friday, the IMF announced the launch of its new Special Drawing Right basket, including the yuan Customized Buccaneers Jersey , effective from Saturday, saying it was a “historic milestone” for China, the IMF and the international monetary system.


The inclusion makes the yuan one of the five reserve currencies fully endorsed by the 189-member organization