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Published on Tuesday, July 17, 2012 | Updated on Thursday, June 16, 2016

As RMB internationalization advances, new headwinds call for policy steps

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Summary

This note is an update of our seminal report on China’s RMB Cross-Border Settlement program issued last year (Origins, Mechanics, and Opportunities,). In addition to assessing progress in deepening cross-border settlements and the offshore RMB market, we flag a number of policy suggestions for advancing the process of RMB internationalization.