Shen, Wei --- "Internationalization of renminbi: offshore renminbi businesses, offshore renminbi centres and renminbi's reserve currency status" [2020] ELECD 214; in Arner, W. Douglas; Wan, Yee Wai; Godwin, Andrew; Shen, Wei; Gibson, Evan (eds), "Research Handbook on Asian Financial Law" (Edward Elgar Publishing, 2020) 122

Book Title: Research Handbook on Asian Financial Law

Editor(s): Arner, W. Douglas; Wan, Yee Wai; Godwin, Andrew; Shen, Wei; Gibson, Evan

Publisher: Edward Elgar Publishing

Section: Chapter 8

Section Title: Internationalization of renminbi: offshore renminbi businesses, offshore renminbi centres and renminbi’s reserve currency status

Author(s): Shen, Wei

Number of pages: 22

Abstract/Description:

The internationalization of Renminbi (or Yuan, Chinese currency) is a clear policy and irreversible direction of the Chinese Government. The mid-term policy strategy is to make inflow and outflow of Renminbi easier, and to boost the use of Renminbi in international trade and finance to reduce reliance on the US dollar. This chapter discusses the evolution of offshore Renminbi businesses in Hong Kong and elsewhere.