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On the Strategic Goals of Chinese RMB Internationalization

Pan Yingli;Shanghai Jiao Tong University;  
Since 2010, remarkable progress has been scored on variousindicators of Chinese RMB internationalization. The recently announced decision of IMF that the RMB is to join the SDR basket is encouraging, because it seems that RMB's transformation into an international currency is just around the corner. In fact, to join the SDR basket is just an inevitable course on the march towards RMB internationalization. With such temporary pleasure, we should remember there are still mountains and hills to climb. This paper mainly discusses the strategic goals of RMB internationalization in the hope of offering some reference in choosing a secure, orderly and lowcost approach to push ahead.
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