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Renminbising China's Foreign Assets

Author

Listed:
  • Yin-Wong Cheung
  • Guonan Ma
  • Robert N. McCauley

Abstract

Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi. This paper discusses the factors shaping the prospects of internationalising the renminbi from the perspective of the currency composition of China’s international assets and liabilities. These factors include, among others, underlying valuation and management of the renminbi.

Suggested Citation

  • Yin-Wong Cheung & Guonan Ma & Robert N. McCauley, 2010. "Renminbising China's Foreign Assets," CESifo Working Paper Series 3009, CESifo.
    • Handle: RePEc:ces:ceswps:_3009
    as

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    References listed on IDEAS

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    More about this item

    Keywords

    renminbi internationalisation; net international asset position; convertibility; exchange rate uncertainty; dollar peg;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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