According to market participants, a third of China’s total trade will be settled in its currency by 2015. In addition, several other important developments have increased the usage of renminbi for investment purposes: (i) the currency is already available to the corporate sector.
For the time being at least, more of the flow of new credit needs to be done on, and to remain on, the balance sheets of the core intermediaries than has typically been the case over recent years.