RESERVE BANK of AUSTRALIA: June 2012 Bulletin - account on Renminbi
http://www.rba.gov.au/publications/bulletin/2012/jun/9.html
Internationalizing the Renminbi
by Lynne Cockerell and Michael Shoory
The Chinese authorities have introduced reforms over the past few years aimed at increasing the use of the renminbi (RMB) in international trade and investment. This article outlines the recent developments, focusing in particular on the offshore market for RMB and the RMB trade settlement scheme. These initiatives have been supported by the signing of bilateral local currency swap agreements between the People's Bank of China (PBC) and other central banks, including the Reserve Bank of Australia.
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26.03.2009: CHINA - urges new global reserve currency - People's Bank of China governor Zhou Xiaochuan is on the right track
It is very wise to ask for a new widely accepted currency like Poeple's Bank of China's governor Mr. Zhou Xiaochuan does.
