3 Factors affecting the internationalisation of the renminbi The successful implementation of the strategy to internationalise the renminbi rests on the interaction between two core elements. These are, first, the gradual liberalisation and international opening up of the capital markets, which I just described to you, and second, the global broadening of the user base of the renminbi.
The inclusion of the renminbi in the IMF’s basket of currencies provides an element of support in China’s internationalisation efforts. Yet purely foreign exchange policy aspects are no longer to be made the sole point of focus. Politically realistic considerations are also being increasingly placed in the foreground.