IMF Said to Give China Strong Signs of Reserve-Currency Nod

``Chinese officials are so confident of winning approval that they have begun preparing statements to celebrate the decision, according to two people... Winning the IMF's endorsement would validate efforts by President Xi Jinping to push through policies aimed at making the world's second-biggest economy more market oriented, boosting China's prestige as it prepares to host Group of 20 gatherings next year. At least $1 trillion of global reserves will convert to Chinese assets if the yuan joins the IMF's reserve basket, according to Standard Chartered Plc and AXA Investment Managers.''