` China's Yuan may become the World's `Third Reserve Currency ' says Managing Director and Chief Economist of Sberbank CIB '

#AceFinanceNews – BEIJING – March 23 – China’s yuan (renminbi) may become a third reserve currency in the world in the future, Managing Director and Chief Economist of investment company Sberbank CIB Yevgeny Gavrilenkov said at the 15th governmental Chinese economic development forum in the Chinese capital on Sunday.

“This forecast can be made on figures of domestic economic growth. Probably the country will keep high GDP growth rate and the GDP volume will increase to around 14-16 trillion U.S. dollars for a brief period of time, the indicators comparable to the European Union and the United States.

Meanwhile, Chinese securities are more attractable for the countries that have a surplus in economy, particularly the Middle East states, and China will obviously follow the path of securing the country’s assets,” the expert noted.

On January 23, 2012, Sberbank and Troika Dialog announced the closure of the deal for Sberbank’s acquisition of 100% of Troika Dialog’s equity capital.

As a result of the subsequent integration, the Corporate & Investment Business was created, which has been operating under the Sberbank CIB brand since October 8, 2012.

Sberbank CIB’s key areas of business are corporate financing, securities and derivatives trading, structured products, private equity investments, mergers and acquisition consulting, debt and equity capital procurement, as well as market research.

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