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Off-shore RMB business market and RMB's Internationalized process

Jia Hui-yan

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Abstract

The internationalization of RMB is not only the result of China's economic development, but also the need of its economic development. The scale enlargement of off-shore RMB day by day, its business development and market foundation will produce sound influence on the internationalization of RMB. Considering RMB's opening degree and the opening process of the capital items in China at present, the RMB off-shore center should be set up in Hong Kong to realize RMB's internationalization through RMB's localization, and it is the most realistic choice to make RMB as an international currency and incorporate it into globalization.

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What this paper is about

The internationalization of RMB is not only the result of China's economic development, but also the need of its economic development. The scale enlargement of off-shore RMB day by day, its business development and market foundation will produce sound influence on the internationalization of RMB. Considering RMB's opening degree and the opening process of the capital items in China at present, the RMB off-shore center should be set up in Hong Kong to realize RMB's internationalization through RMB's localization, and it is the most realistic choice to make RMB as an international currency and incorporate it into globalization.

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Available abstract

The internationalization of RMB is not only the result of China's economic development, but also the need of its economic development. The scale enlargement of off-shore RMB day by day, its business development and market foundation will produce sound influence on the internationalization of RMB. Considering RMB's opening degree and the opening process of the capital items in China at present, the RMB off-shore center should be set up in Hong Kong to realize RMB's internationalization through RMB's localization, and it is the most realistic choice to make RMB as an international currency and incorporate it into globalization.

Key concepts: Renminbi, Internationalization, Business, Currency, China, Shore, International economics, International trade

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