LEADER 04959oam 2200553 450 001 9910141414503321 005 20190911100039.0 010 $a1-119-19903-4 010 $a1-118-33928-2 010 $a1-283-73553-9 010 $a1-118-33926-6 035 $a(OCoLC)865012462 035 $a(MiFhGG)GVRL8FNO 035 $a(EXLCZ)992670000000271694 100 $a20130424d2013 uy 0 101 0 $aeng 135 $aurun|---uuuua 181 $ctxt 182 $cc 183 $acr 200 14$aThe offshore renminbi $ethe rise of the Chinese currency and its global future /$fRobert Minikin, Kelvin Lau 210 $aSingapore $cJohn Wiley & Sons Singapore Pte. Ltd.$d2013 210 1$aSingapore :$cWiley,$d2013. 215 $a1 online resource (xxii, 245 pages) $cillustrations (some color) 225 0 $aGale eBooks 300 $aDescription based upon print version of record. 311 $a1-118-33925-8 320 $aIncludes bibliographical references and index. 327 $aThe Offshore Renminbi: The Rise of the Chinese Currency and Its Global Future; Copyright; Contents; Foreword; Preface; List of Acronyms and Key Terms; Chapter 1: The New Global Role for the Renminbi; A Longstanding-but Failing-Path; Allowing Renminbi Markets to Flourish; Political Tailwinds for Internationalisation; Challenges and Consolidation Risks; Diversion Risks; Instability Risks; The Renminbi in a Multipolar World; Chapter 2: Linking the Offshore and the Onshore Renminbi Markets; International Transactions in a Domestic Currency; Assessing International Linkages 327 $aThe Starting Point for Renminbi Internationalisation Investability: Opportunities and Challenges; The Role of ""Dim Sum"" and Renminbi Intermediation; Timing Convertibility; Regulatory Divergences and the Role for Capital Controls; PBoC and Exchange Rate Policy; The Advantages of the Offshore Renminbi; Chapter 3: The Birth and Evolution of the Offshore Renminbi Market in Hong Kong; A Chronological Look at Key Policy Liberalisations; 2004: The Trial Run of Personal Renminbi Business; 2009: The Beginnings of Renminbi Cross-border Trade Settlement 327 $a2010: The Big Bang that Transformed the Offshore Market into the CNH Market What's Next: Policy Focus Shifting to the Three S's; More on Renminbi Trade Settlement in the Post-Big Bang Era; CNH Market Incentivises Renminbi Trade Settlement; The Problematic Trade Settlement Conversion Quota System, Part I; The Problematic Trade Settlement Conversion Quota System, Part II; Rebuilding after the Storm; From Renminbi Trade Settlement to Offshore Renminbi Deposits; Too Much of a Good Thing Prior to Mid-2011; From Too Much CNH Deposits to Too Little 327 $aChapter 4: New Markets-New Jargon, New Opportunities The Chinese Yuan in FX Spot; Importance of the CNH Premium; A New Diversity of Forward Markets; Opportunities in the CNH Markets; Unpriced CNY Appreciation; New Options in CNH Options; Future Size of These Markets; Tracking Returns in CNH Deposits; The Dim Sum Bond Market Matures; Chapter 5: Geographical Expansion of the Offshore Renminbi Universe; From Hong Kong to Hawaii through Trade; Renminbi in London and the Hub-and-Spokes Model; Direct Renminbi Cooperation with Mainland China; Shanghai's Aspiration and Infrastructure Overhaul 327 $aHong Kong Is Still in Pole Position From an Incubator to a Facilitator; Mind the Closing Gap; Stick to the Formula that Works; Extend Reach to the PRD; Be More International; Chapter 6: Drivers for Internationalisation; Public Policy: ""Replacing"" USD; Economics: China's Role in the Global Economy; For Investors: Appreciation-but, More Importantly, Diversification; For Corporations: Fairer and More Transparent Pricing; For Official Reserve Managers: A New Route to Stability?; Chapter 7: The Rise of the Renminbi and Its Policy Implications 327 $aThe Renminbi's Rise: A Threat to the Hong Kong Dollar? 330 $aThe rise of the renminbi and what it means for forex markets Chinese authorities have ambitious plans to ""internationalize"" the renminbi, transforming it from a tightly controlled domestic legal tender into a global currency for international trade, held by both private and public sector asset managers. The Offshore Renminbi examines this impending currency revolution, outlining why the emergence of China as a major economic power will likely soon be matched by a transformation of the renminbi's role in the global financial system. It explains how new markets for ""offshore"" 606 $aRenminbi 606 $aForeign exchange$zChina 607 $aChina$2fast 615 0$aRenminbi. 615 0$aForeign exchange 676 $a332.4951 700 $aMinikin$b Robert$0973035 702 $aLau$b Kelvin 801 0$bMiFhGG 801 1$bMiFhGG 906 $aBOOK 912 $a9910141414503321 996 $aThe offshore renminbi$92213742 997 $aUNINA