The Renmin University of China and the Bank of Communications jointly released the RMB Internationalization Report 2016 (the Report) on July 24, which points out that as of 2015, the RMB Internationalization Index (RII) that comprehensively reflects the RMB international use reached 3.6, an increase of more than 10 times in five years only. “The RMB is expected to surpass Japanese yen and pound sterling and become second only to the US dollar and the euro within two years.”

 

Xiang Songzuo, member of the editorial board of the Report, and deputy director of the International Monetary Institute (IMI) under Renmin University of China, said that the significant growth of the cross-border settlement of global trade, RMB FDI and overseas loans become the most important drivers that facilitate the RII to maintain the high-speed growth.

 

Source: Translated from Invest Guangzhou, July 25, 2016