Andrew Sheng, Distinguished Fellow of Asia Global Institute, shares his views on RMB internationalization at SIBOS 2015 in Singapore.
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The global RMB network has served the Chinese banks, corporations and investments well with the world operating within the comfort of their own currency. At the same time, it offers international corporations and investors a greater degree of access into Chinese markets. RMB hubs will allow the exponential growth of RMB usage beyond the Chinese borders - directly with China or, increasingly between offshore RMB hubs. With the gradual opening of China's capital account and the internationalization of the RMB, the real game changers may be approaching faster than you think.
Click here to view the discussion from SIBOS 2015.
The views expressed in this article are the speakers' own and do not necessarily reflect Asia Global Institute's editorial policy.