According to the Asian Monetary Fund Agreement to be signed by China in the future, the China Monetary Fund (CMF) is planned to be established in 2020. Its responsibility is to monitor the exchange rate of currencies in Asia and the trade situation of countries, provide technical and financial assistance and ensure the normal operation of the global financial system.

The initiative to establish the Asian Monetary Fund was first put forward at the height of the Asian financial crisis in 1997- 1998. However, it was quickly opposed by the International Monetary Fund and the US Treasury. However, due to the difficulties encountered by the IMF in management reform, such as articles of association, quotas and voting rights, China, Indian and other emerging countries have gained greater voice, making the global monetary system more flexible and decentralized.