Insight China: RMB Internationalisation
The internationalisation of the Renminbi (RMB) is one of the more contentious and widely debated aspects of economic reform in China. Beijing has been prudently hastening the currency's use in recent years through a steady liberalisation programme. China's new leaders have galvanised this free-market push since taking charge in 2013, bringing about capital market and interest rate liberalisation and establishing the Shanghai Free Trade Zone in the first few months of office.