This article recounts China’s renminbi(RMB)internationalisation experiences since the 2009 RMB cross-border trade settlement ini-tiative.In the first few years,the RMB made inroads into global financial markets and h...
supported by the National Natural Science Foundation of China[Grant No.72103077];the Humanities and Social Sciences Foundation of the Ministry of Education of China[Grant No.21YJC790073];the Natural Science Foundation of Guangdong Province[Grant No.2021A1515011422]and[Grant No.2022A1515012000];the Social Science Foundation of Guangdong Province[Grant No.GD20YYJ02];the Social Science Foundation of Guangzhou[Grant No.2020GZQN14];the self-built fund from the Institute of Finance at Jinan University.
This paper examines how US monetary policy uncertainty(MPU)affects RMB deviations from covered interest parity(CIP)and how this effect is influenced by China’s capital controls,the RMB exchange rate regime,and intern...
supports from National Natural Science Foundation of China[71571106];Natural Science Foundation of Jilin Province[71871195];the Ministry of Education of the Peoples Republic of China[18YJA790121],and Mindu Educational Fund。
Using an innovative network approach,this study constructs new indices of the renminbi(RMB)internationalisation and presents strong evidence of the RMB’s growing influence globally and regionally.We identify networks...
This research empirically examines the impact of China’s renminbi(RMB)Bilateral Swap Agreements(BSAs)on the usage of the currency in cross-border trade transactions.By using a unique dataset from SWIFT including cros...
Based on theoretical logics derived from the literature and the historical experience,we take a deep look at the relationship between international policy coordination and RMB internationalisation.International policy...
Yongwei Chen acknowledges the financial support from the National Natural Science Foundation of China (No. 71001107)
Following Dibooglu and Kutan(2005),we construct a structural VAR model to investigate the impact of RMB(the Chinese currency)appreciation on growth and inflation in China.The empirical results show that RMB appreciati...