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Renminbi Going Global

Author

Listed:
  • Xiaoli Chen

    (Shandong University)

  • Yin-Wong Cheung

    (University of California, Santa Cruz and Hong Kong Institute for Monetary Research)

Abstract

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.

Suggested Citation

  • Xiaoli Chen & Yin-Wong Cheung, 2011. "Renminbi Going Global," Working Papers 082011, Hong Kong Institute for Monetary Research.
    • Handle: RePEc:hkm:wpaper:082011
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    RMB Internationalization; Off-Shore RMB Market; Cross-Border Trade Settlement; Panda Bonds;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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