In China, money, currency and payment transactions are manifestations of state sovereignty and political power. The … one-party state. China is pursuing the internationalisation of the renminbi on several tracks in small persistent steps … gaining ground as a trading, credit and reserve currency in Asia and the Global South. China is a pioneer in the development …

China to internationalize the Renminbi (RMB). Using detailed customs data from France for the initial years of these reforms … paper shows that invoicing in RMB significantly boosted exports for varieties sold to China. Overall, the findings suggest … that early RMB adoption, although limited across firms, provided an important competitive edge when exporting to China. …