China Facts: The internationalization of the Renminbi is slowly down

 

 

In the past, officials from the PBOC liked to map out a future in which the renminbi would play an ever greater role in international transactions. Today, the renminbi is less international by three key measures. At the peak more than four years ago, the Chinese currency had become the fourth most widely used currency for cross-border payments, according to SWIFT. But in February this year the renminbi was frozen in fifth, which is where it has been for most of the past few years. Similarly, yuan-denominated trade accounted for 30% of total Chinese trade in 2014, but has since slipped to about half that level. *) 

 

*) the F.T. 4rd April 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share on Facebook
Share on Twitter
Please reload

  • Facebook Basic Black
  • Twitter Basic Black
  • Black Google+ Icon
Please reload

Search By Tags:
Hans Henrik Pontoppidan
Secretary General, DCBF 
Who's Behind The Blog

CONTACT INFORMATION

Danish-Chinese Business Forum

Address: Tingskiftevej 5,

DK-2900 Hellerup

Phone: +45 33 32 97 78

Mail: info@dcbf.dk

CVR: 29 05 16 31

The views expressed of the authors do not necessarily represent or reflect the views of DCBF.