{"product_id":"the-offshore-renminbi-9781118339251","title":"The Offshore Renminbi","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eThe 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.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eForeword ix\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eList of Acronyms and Key Terms xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 The New Global Role for the Renminbi 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Longstanding—but Failing—Path 4\u003c\/p\u003e \u003cp\u003eAllowing Renminbi Markets to Flourish 9\u003c\/p\u003e \u003cp\u003ePolitical Tailwinds for Internationalisation 13\u003c\/p\u003e \u003cp\u003eChallenges and Consolidation Risks 19\u003c\/p\u003e \u003cp\u003eThe Renminbi in a Multipolar World 23\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Linking the Offshore and the Onshore Renminbi Markets 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInternational Transactions in a Domestic Currency 25\u003c\/p\u003e \u003cp\u003eThe Starting Point for Renminbi Internationalisation 31\u003c\/p\u003e \u003cp\u003eInvestability: Opportunities and Challenges 40\u003c\/p\u003e \u003cp\u003eTiming Convertibility 45\u003c\/p\u003e \u003cp\u003ePBoC and Exchange Rate Policy 50\u003c\/p\u003e \u003cp\u003eThe Advantages of the Offshore Renminbi 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 The Birth and Evolution of the Offshore Renminbi Market in Hong Kong 57\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Chronological Look at Key Policy Liberalisations 59\u003c\/p\u003e \u003cp\u003eMore on Renminbi Trade Settlement in the Post–Big Bang Era 79\u003c\/p\u003e \u003cp\u003eFrom Renminbi Trade Settlement to Offshore Renminbi Deposits 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 New Markets—New Jargon, New Opportunities 101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Chinese Yuan in FX Spot 101\u003c\/p\u003e \u003cp\u003eA New Diversity of Forward Markets 109\u003c\/p\u003e \u003cp\u003eOpportunities in the CNH Markets 112\u003c\/p\u003e \u003cp\u003eTracking Returns in CNH Deposits 121\u003c\/p\u003e \u003cp\u003eThe Dim Sum Bond Market Matures 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Geographical Expansion of the Offshore Renminbi Universe 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFrom Hong Kong to Haiwai through Trade 133\u003c\/p\u003e \u003cp\u003eRenminbi in London and the Hub-and-Spokes Model 139\u003c\/p\u003e \u003cp\u003eDirect Renminbi Cooperation with Mainland China 142\u003c\/p\u003e \u003cp\u003eShanghai’s Aspiration and Infrastructure Overhaul 147\u003c\/p\u003e \u003cp\u003eHong Kong Is Still in Pole Position 151\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Drivers for Internationalisation 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePublic Policy: “Replacing” USD 168\u003c\/p\u003e \u003cp\u003eEconomics: China’s Role in the Global Economy 174\u003c\/p\u003e \u003cp\u003eFor Investors: Appreciation—but, More Importantly, Diversification 178\u003c\/p\u003e \u003cp\u003eFor Corporations: Fairer and More Transparent Pricing 182\u003c\/p\u003e \u003cp\u003eFor Official Reserve Managers: A New Route to Stability? 187\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 The Rise of the Renminbi and Its Policy Implications 193\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Renminbi’s Rise: A Threat to the Hong Kong Dollar? 193\u003c\/p\u003e \u003cp\u003eThe Renminbi’s Rise: A Regional FX Anchor 198\u003c\/p\u003e \u003cp\u003eThe Renminbi’s Rise: The SDR and the IMF 206\u003c\/p\u003e \u003cp\u003eThe Renminbi’s Rise: The US Dollar in a Multipolar World 213\u003c\/p\u003e \u003cp\u003eAfterword: The Life Overseas with the Rising Renminbi 217\u003c\/p\u003e \u003cp\u003eAppendix: The CNH Timeline 223\u003c\/p\u003e \u003cp\u003eBibliography 229\u003c\/p\u003e \u003cp\u003eAbout the Authors 231\u003c\/p\u003e \u003cp\u003eIndex 233\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49528825610583,"sku":"9781118339251","price":42.5,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781118339251.jpg?v=1731873168","url":"https:\/\/bookcurl.com\/products\/the-offshore-renminbi-9781118339251","provider":"Book Curl","version":"1.0","type":"link"}