Further, plans have been announced to allow Chinese residents to invest RMB in approved offshore destinations. The second condition is that the currency is used in transactions between non-residents. In particular, a truly internationalised currency is one where: i.  non-residents are willing to raise funds in that currency despite ultimately being in need of another currency; and  ii.
Finally, as authorities we need to improve our ability to recognise, assess and respond effectively to mitigate nascent systemic risks at the global level.