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 …

We study the renminbi (RMB) covered interest differential - an indicator of the effectiveness of capital controls. It … than before. That is, capital controls in China are still substantial and effective. In addition to exchange rate changes …