by David Olsson King & Wood Mallesons’ Melbourne office.
Over the last few years, the opportunities for investing internationally and domestically in RMB have continued at pace. RMB’s longer-term potential has been recently further reinforced by its inclusion into the basket of currencies that constitute the International Monetary Fund’s Special Drawing Rights.
The expanded role of RMB in cross-border trade settlement is a key driver to RMB internationalisation. Investment channels have been expanded, the onshore financial markets have opened to foreign participation, and a series of mutual recognition programs allow investors to invest in one another’s onshore and offshore markets. Two-way channels also allow companies to sweep money on and offshore between affiliates.
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