A Method for Accelerating the RMB’s Internationalization

Abstract

The previous chapters’ discussion of methods for promoting the RMB’s internationalization was only a kind of forecast with a focus on its inevitability and necessity. In more concrete and less theoretical terms, however, the RMB’s internationalization proceeds as it will, resulting in the development of the offshore market to proceed faster than that of the onshore market—a situation further responsible for consolidating the model of “offshore market + settlement bank.” This path is entirely contrary to the one it was presupposed the RMB would follow. What’s more important, the “dependence on this path” not only brings new challenges but also new opportunities.