3 policies for Internationalization of RMB3 policies for Internationalization of RMB

China

Background

Internationalization of RMB

For transaction with non-resident

1st policy

2nd policy

3rd policy

The China-ASEAN Free Trade 1) increase the two-way trade

2) further use of the RMB for trade settlements.

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

The End