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Title:Renminbising China's foreign assets PDF Logo
Authors:Cheung, Yin-Wong
Ma, Guonan
McCauley, Robert N.
Issue Date:2010
Series/Report no.:CESifo working paper Monetary Policy and International Finance 3009
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.
Subjects:renminbi internationalisation
net international asset position
convertibility
exchange rate uncertainty
dollar peg
JEL:F30
F31
F33
O24
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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