Cooperative Policies Boost Chinese Renminbi Use in Foreign Markets
The article explores how different policies affect the use of the Chinese renminbi in foreign markets. By analyzing data from various countries, the researchers found that certain policy measures, like allowing more investment opportunities in renminbi and providing better payment services, help increase the use of the renminbi in foreign exchange markets. However, entering into a renminbi-local currency swap agreement did not have the same impact. This shows that government policies play a crucial role in making the renminbi more widely used internationally.