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Strategies for RMB Internationalization in China: Policies and Challenges

Explore the background, policies, and challenges of the internationalization of the Chinese currency, Renminbi (RMB). Learn about the three key policies guiding RMB internationalization and the impact on transactions with non-residents, including the China-ASEAN Free Trade initiatives. Discover the limitations due to RMB convertibility, capital controls, and underdeveloped financial markets in China compared to global standards.

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Strategies for RMB Internationalization in China: Policies and Challenges

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Presentation Transcript

  1. Econ 2130Money and Banking 3 policies for Internationalization of RMB

  2. China

  3. Background

  4. Internationalization of RMB For transaction with non-resident

  5. 1st policy

  6. 2nd policy

  7. 3rd policy

  8. The China-ASEAN Free Trade  1) increase the two-way trade 2) further use of the RMB for trade settlements.

  9. Shortcomings • 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

  10. The End

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