IDEAS home Printed from https://ideas.repec.org/a/taf/oabmxx/v7y2020i1p1808399.html
   My bibliography  Save this article

The nexus of BRI and internationalization of renminbi (RMB)

Author

Listed:
  • Bora Ly

Abstract

Since 2009, the Chinese government has committed itself to encourage Renminbi (RMB) internationalization. China has introduced various direct steps supporting the RMB internationalization, including the open capital market in Hugangtong, the growth of the offshore RMB, the launch of the Cross-Border Interbank Payment System (CIPS). The reform of the exchange rate structure for the RMB, developing crude oil futures. Incorporating the RMB into the SDR, BRI, and the establishment of AIIB contribute to further internationalization of the RMB. The BRI provides an opportunity, on the one hand, that the RMB becomes a foreign trade currency and strengthens the RMB’s position as an international currency. China must encourage RMB internationalization, including turning cross-border RMB trade as a payment currency, promoting RMB internationalization with ODI, enhancing the RMB exchange rate process, developing domestic financial system and financial infrastructure, and warning to expand capital account and develop offshore RMB.

Suggested Citation

  • Bora Ly, 2020. "The nexus of BRI and internationalization of renminbi (RMB)," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1808399-180, January.
    • Handle: RePEc:taf:oabmxx:v:7:y:2020:i:1:p:1808399
    DOI: 10.1080/23311975.2020.1808399
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/23311975.2020.1808399
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/23311975.2020.1808399?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Longcan Zou & Jim Huangnan Shen & Jun Zhang & Chien‐Chiang Lee, 2022. "What is the rationale behind China's infrastructure investment under the Belt and Road Initiative," Journal of Economic Surveys, Wiley Blackwell, vol. 36(3), pages 605-633, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:oabmxx:v:7:y:2020:i:1:p:1808399. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://cogentoa.tandfonline.com/OABM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.