The Renminbi: Prospects for the Future Meeting
  January, 12 2011

Although, the internationalization of the Chinese economy has continuously moved forward for the past 30 years, its currency, the Renminbi, is fully convertible only for trade and income related operations.

For their part, capital flows are still under government control for Chinese residents but the controls on the non-residents are being alleviated and an offshore market for the Renminbi is developing in Hong Kong.

This increasing internationalization of the Renminbi which will result from these changes will undoubtedly shape the debate on the reform of the international monetary system.
Compte rendu du Club du CEPII
Jeffrey A. Frankel Professor, Kennedy School of Government, Harvard University


Michel Aglietta

Professor, Université Paris Ouest Nanterre ; Scientific Counsellor, Groupama AM & CEPII

Haihong Gao*

Senior Fellow, Director of Research Section of International Finance, Institute of World Economics and Politics (IWEP), Chinese Academy of Social Sciences (CASS)


Agnès Bénassy-Quéré Director,  CEPII ; Vice-President du Club du CEPII Chair by