The evolution of offshore renminbi trading: 2016 to 2019

Yin-Wong Cheung, Louisa Grimm and Frank Westermann

Journal of International Money and Finance, 2021, vol. 113, issue C

Abstract: We study the evolution of offshore renminbi trading between 2016 and 2019. The geographical pattern of changes in offshore renminbi trading during this period is different from the one between 2013 and 2016. The pattern of changes in the 2016–2019 period, in addition to the previously reported convergence to the geographical trading pattern of all currencies, is affected by (geopolitical) disputes and trade intensity. Further, China-specific RQFII investment quota arrangements and offshore market’s equity market capitalization and level of financial development play a role in shaping the offshore RMB trading pattern.

Keywords: FX turnover; Geographical trading pattern; Renminbi internationalization; Dispute; Trade intensity (search for similar items in EconPapers)
JEL-codes: C24 F31 F33 G15 G18 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (3)

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Related works:
Working Paper: The Evolution of Offshore Renminbi Trading: 2016 to 2019 (2020)
Working Paper: The Evolution of Offshore Renminbi Trading: 2016 to 2019 (2020)
Working Paper: The Evolution of Offshore Renminbi Trading: 2016 to 2019 (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jimfin:v:113:y:2021:i:c:s0261560621000188

DOI: 10.1016/j.jimonfin.2021.102369

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