Cross-Border Trade Settlement in Renminbi - Risks, Implications and Prospects

Renminbi, China's currency, is underutilised internationally. Although Renminbi's internationalisation is at an early stage, the benefits of using Renminbi to in cross-border trade are clear. Renminbi growth is spectacular presenting more opportunities to the international business community. This article analyses some new developments, risks and implications of cross-border trade settlement in Renminbi. The article also discusses how Renminbi can be more internationalised in the near future. The role played by both foreign financial centres and Shanghai is also discussed