After Renminbi has become IMF's SDR basket currency, the issue of Renminbi becoming a reserve currency has now grabbed wide attention. Anbound research team believe that although Renminbi is now an SDR basket currency, it still lacks of many prerequisites to become a real international currency and a reserve currency, and there are many fundamental works to be done. Before building up a well-functioning financial market, China should not be in hurry to fully liberalize its capital account.