Friday, December 31, 2010
Internationalization of Renminbi-V
According to CCTV the Chinese government is going to sell Renminbi bonds denominated in Hong Kong on 8 September 2009. This is the first time that Beijing will sell its bonds outside of mainland China. About 6 billion yuan ($876 million) in bonds will be sold on 28 September 2009. The Chinese officials have often expressed concern about the stability of the dominant US dollar. Will the Renminbi be new global reserve currency?