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Little is known about the total factor productivity of the non-tradable sectors in China. In this paper we estimate … than the renminbi real effective exchange rate. We also find the non-tradable sectors have seen much lower productivity … that if productivity growth in the non-tradable sectors remains slow, China will likely see more difficulty in rebalancing …
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, there has been a growth of renminbi invoicing and settlement in China’s border trades, although the overall amount is small …, it is pressing and would be beneficial to China to promote the renminbi’s invoicing and settlement function. Therefore …The use of the renminbi for invoicing and settlement intermediaries in foreign-oriented activities is the first step …
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