The International Monetary Fund (IMF) added China's yuan to its group of key global currencies this week, a historic development that gives new status to the world's second-largest economy.
国际货币基金组织本周将人民币纳入其关键国际货币篮子，这一历史性进展赋予了全球第二大经济体一个新的地位。

It is "a sign that China is rising ever faster and further on the global economic stage," reported the BBC. China now accounts for more than 15 percent of the global gross economic output, nearly three times what it was a decade ago, said the Wall Street Journal.
英国国际广播公司报道称，“这是中国在国际经济舞台上升更快更远的一个标志”。华尔街日报表示，中国目前占到了全球经济总产出的15%以上，是十年前的近三倍。

The IMF said the yuan, also called the renminbi, will be added to the group of reserve currencies. Those include the U.S. dollar, Europe's euro, the Japanese yen and the British pound. These currencies are in the IMF's Special Drawing Rights group. The IMF uses this group of reserve currencies to make emergency loans to its 188 member nations.
国际货币基金组织表示，人民币将被纳入到该组织的储备货币。该组织的储备货币包括美元、欧元、日元和英镑。这些货币目前身居国际货币基金组织特别提款权货币篮子之中。国际货币基金组织使用这一篮子储备货币向其188个成员国发放紧急贷款。

The new IMF designation will take effect at the end of September 2016.
国际货币基金组织这一新的决定将于2016年9月底正式生效。

China had worked toward winning the designation for several years. To achieve it, China had to give up some of its tight control over its currency and make reforms in its financial sector, reported the New York Times.
中国朝着赢得这一决定做出了多年的努力。为了实现这一目标，纽约时报报道称，中国必须放弃其对人民币的一些严密控制，并改革其金融部门。

The IMF decision reflects the declining influence of Europe in world financial markets.
国际货币基金组织的决定反映出欧洲在世界金融市场影响力的下降。

"The renminbi is mainly replacing part of the euro's role in the special drawing rights," wrote the New York Times. It added that the renminbi is "quickly gaining ground on the euro."
纽约时报写道，“人民币主要是取代欧元在特别提款权中的部分作用。”该报还补充说，人民币正在迅速缩小同欧元的差距。

In the new IMF designation, the IMF will give more weight to China's currency than to either the yen or the pound.
在国际货币基金组织这一新的决定中，国际货币基金组织赋予人民币的比重超过了日元和英镑。

Despite the increased role for the yuan, the U.S. dollar still dominates in finance and trade, and is "the world's pre-eminent reserve currency," wrote the Wall Street Journal. It is still the most widely used currency for savings around the world. This is because investors feel confident that they can get access to money traded in dollars.
尽管人民币日益重要，美国在金融和贸易中仍然占据主导地位，而且美元是“全球最杰出的储备货币”，华尔街日报写道。美元仍然是全球使用最为广泛的储备货币。这是因为投资者对美元的货币兑换有信心。

Christine Lagarde is the IMF Managing Director. She said the decision regarding the yuan is "an important milestone in the integration of the Chinese economy into the global financial system."
国际货币基金组织总裁拉加德说，关于人民币的这个决定是“中国经济融入全球金融体系的一个重要里程碑。”

She added that it was also "a recognition of the progress that the Chinese authorities have made in the past years in reforming China's monetary and financial systems."
她补充表示，这也是“对中国当局过去几年在改革人民币和金融体系中取得进步的一种认可。”

There are risks to being an IMF reserve currency. China limits the ability of businesses and individuals to transfer funds out of the country. But the more China opens its markets, the more it exposes its economy to "the risk of capital flowing out," noted the Wall Street Journal.
华尔街日报指出，成为国际货币基金组织储备货币存在着一些风险。中国限制了企业和个人将资金转到国外的能力。但是中国越开放其市场，越将其经济暴露到资本流出的风险之中。

I'm Mary Gotschall.
我是玛丽·歌切尔。(51VOA.COM对本文翻译保留全部权利，未经授权请勿转载，违者必究！)

The International Monetary Fund (IMF) added China's yuan to its group of key global currencies this week, a historic development that gives new status to the world's second-largest economy.

It is "a sign that China is rising ever faster and further on the global economic stage," reported the BBC. China now accounts for more than 15 percent of the global gross economic output, nearly three times what it was a decade ago, said the Wall Street Journal.

The IMF said the yuan, also called the renminbi, will be added to the group of reserve currencies. Those include the U.S. dollar, Europe's euro, the Japanese yen and the British pound. These currencies are in the IMF's Special Drawing Rights group. The IMF uses this group of reserve currencies to make emergency loans to its 188 member nations.

The new IMF designation will take effect at the end of September 2016.

A bank clerk counts U.S. dollar banknotes on bundles of 100 Chinese yuan banknotes at a bank in Anhui province. China's yuan was admitted to the IMF's group of top world currencies this week. (REUTERS/ Stringer China).

China had worked toward winning the designation for several years. To achieve it, China had to give up some of its tight control over its currency and make reforms in its financial sector, reported the New York Times.

The IMF decision reflects the declining influence of Europe in world financial markets.

"The renminbi is mainly replacing part of the euro's role in the special drawing rights," wrote the New York Times. It added that the renminbi is "quickly gaining ground on the euro."

In the new IMF designation, the IMF will give more weight to China's currency than to either the yen or the pound.

Despite the increased role for the yuan, the U.S. dollar still dominates in finance and trade, and is "the world's pre-eminent reserve currency," wrote the Wall Street Journal. It is still the most widely used currency for savings around the world. This is because investors feel confident that they can get access to money traded in dollars.

Christine Lagarde is the IMF Managing Director. She said the decision regarding the yuan is "an important milestone in the integration of the Chinese economy into the global financial system."

She added that it was also "a recognition of the progress that the Chinese authorities have made in the past years in reforming China's monetary and financial systems."

There are risks to being an IMF reserve currency. China limits the ability of businesses and individuals to transfer funds out of the country. But the more China opens its markets, the more it exposes its economy to "the risk of capital flowing out," noted the Wall Street Journal.

I'm Mary Gotschall.

Ken Bredemeier reported on this story for VOANews.com. Mary Gotschall adapted this story using additional sources for Learning English. Kathleen Struck was the editor.

Do you have an opinion about this topic? Let us know what you think in the Comments section below, or on our 51VOA.COM.

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Words in This Story

currency – n. the money that a country uses : a specific kind of money

status – n. high position or rank in society

gross economic output – noun phrase the entire amount of goods and services produced by a country or countries

emergency – n. an unexpected and usually dangerous situation that calls for immediate action

designation - n. the act of officially choosing someone or something to do or be something

financial – adj. relating to money

decline – v. to become lower in amount or less in number

dominates – v. to be the most important part of (something)

milestone – n. an important point in the progress or development of something: a very important event or advance

integration – n. the act of making (a person or group) part of a larger group or organization

expose – v. to cause (someone) to experience something or to be influenced or affected by something

capital – n. the money, property, etc., that a person or business owns