CIGI PAPERS
No.58 - February2015

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THE INFLUENCE OF RMB INTERNATIONALIZATION
ON THE CHINESE ECONOMY: THEORY AND POLICY
Xu Qiyuan and He Fan

EXECUTIVE SUMMARY
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INTRODUCTION
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A POLICY REVIEW OF RMB INTERNATIONALIZATION
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WHY RMB INTERNATIONALIZATION HAS DEVELOPED AS A MODEL OF “TRADE SETTLEMENT PLUS OFFSHORE MARKET”
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EXISTING LITERATURE ON THE IMPACT OF RMB CROSS-BORDER SETTLEMENTS ON CHINA’S ECONOMY
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RMB OUTFLOW TRANSACTIONS AND THEIR EFFECT ON CHINA’S ECONOMY
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RMB INFLOW TRANSACTIONS AND THEIR EFFECT ON CHINA’S ECONOMY
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RMB PROCEEDS FROM DIM SUM BONDS FLOWING BACK TO THE MAINLAND
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CONCLUSION
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