RMB: A living, breathing asset

China only embarked on the internationalisation of the renminbi as recently as 2009, aiming to match the currency’s status with its position as the world’s second largest economy. The pace of developments since then has been dramatic, with capital account freedoms and other reforms propelling the currency to almost SDR status. But what does this mean for treasurers?

By Co-Published Chapter

Aug 1, 2015

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By the end of 2014, the renminbi had become the world’s fifth most used payment currency, the second largest trade finance currency and the sixth most traded FX currency – although it only accounts for 25% of China’s total trade.

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