Renminbi Going Global
affiliation not provided to SSRN
City University of Hong Kong - Department of Economics & Finance; University of California at Santa Cruz - Department of Economics
March 28, 2011
HKIMR Working Paper No.08/2011
The paper assesses the international status of the Chinese currency renminbi (RMB) by recounting and reviewing the recent polices China instituted to promote the use of the RMB in the global market. The evidence suggests that the RMB is gaining acceptance overseas. However, compared with the size of the Chinese economy, the current scale of the use of the RMB is quite small. The path to a fully fledged international RMB will be a distant goal.
Number of Pages in PDF File: 27
Keywords: RMB Internationalization, Off-Shore RMB Market, Cross-Border Trade Settlement, Panda Bonds
JEL Classification: F02, F31, F33
Date posted: March 29, 2011
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