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Monday, February 06, 2017
Paces of renminbi's internationalization needed to be adjusted
ANBOUND

By 2016, the trend of sustained and steady growth of the Renminbi offshore payment began to reverse. The international usage of renminbi, on annual basis has declined for the first time. In this regard, two questions needed to be asked: why is this happened and how will this affect the internationalization prospect of renminbi. Anbound research team believes that this trend is affected by factors such as the contraction of international trade, the slowdown of China's economy, the delaying of opening-up for foreign finance and the central bank's exchange rate policy. However, the short-term slowdown of the pace of the internationalization of renminbi does not mean long-term external financial liberalization goal would be affected, but rather it is the short-term goal balancing and weighting needed to be faced by a big economy like China.

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