So putting all this together, there has been significant progress on many fronts. Indeed, there has 2/5  BIS central bankers' speeches  been more progress than many observers expected. There is, though, still some way to go for the RMB to be a truly internationalised currency.
Challenges and Opportunities An obvious question then is how to build on the progress that has been made. One lesson from experience elsewhere is that having an internationalised currency requires an open capital account. It requires allowing domestic citizens to buy and sell assets overseas and allowing non-residents to buy and sell domestic assets.