3 policies for internationalization of rmb. major player in international trade and finance...
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3 policies for Internationalization of RMB3 policies for Internationalization of RMB
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China
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Background
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Internationalization of RMB
For transaction with non-resident
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1st policy
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2nd policy
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3rd policy
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The China-ASEAN Free Trade 1) increase the two-way trade
2) further use of the RMB for trade settlements.
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RMB is not a convertible currency China controls capital flows The core of the Chinese financial market
is the underdeveloped state-owned banks
Market infrastructure & institutions are not comparable to those in HK and other world-class open financial markets
Shortcomings
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The End