China Data: A Milestone for RMB Internationalization
March 09, 2015
The essential numbers on the RMB internationalization; the contraction in China’s luxury market; the growth in China’s e-commerce transaction value; and more.
China has made no bones about its ambitions to make the renminbi a truly global currency. Earlier this year, the government announced that in 2014 alone RMB 9.95 trillion ($1.6 trillion) was used for cross-border payments. While comparative figures for 2013 are not available, the figure shows that the RMB is on its way to internationalization. According to payments provider SWIFT, the RMB has already broken into the hallowed club of the top five global payments currencies, overtaking the Canadian and Australian dollar and just behind the Japanese Yen, British pound, Euro and US dollar.
In this installment of China Data, we bring you all the numbers that should be on your radar—from the Chinese RMB to the luxury and e-commerce markets in China and China’s march towards becoming a more equal society in terms of the Gini Coefficient.
Enjoying what you’re reading?
CKGSB Report
Related Articles
Our Programs
New Energy and the Disruption of Traditional Industries
Global Unicorn Program Series
The Global Unicorn Program in New Energy and the Disruption of Traditional Industries – presented jointly by CKGSB and University of Sydney – will emphasize Australia’s distinctive contributions.
LocationSydney, Australia
DateFebruary 11-14, 2025
LanguageEnglish
Asia Start
Asia Start provides entrepreneurs and executives with unparalleled access to Asia’s dynamic digital economy and its business ecosystems, offering the latest trends and insights, strategies, and connections to overcome challenges and unlock future growth for your business in Asia and beyond.
LocationBeijing, Shenzhen, Hong Kong
DateMarch 24-28, 2025
LanguageEnglish
AI-Driven Healthcare Innovation Program
Global Unicorn Program Series
The 2025 Artificial Intelligence (AI)-Driven Healthcare Innovation Program stands at the forefront of addressing the critical need for innovative healthcare solutions powered by artificial intelligence.
LocationJohns Hopkins University, Washington, D.C.
DateMay 5-9, 2025
LanguageEnglish
Scaling Innovation: AI and Digital Strategies for Business Transformation
Global Unicorn Program Series
This program is designed to equip senior executives with the strategic insights and tools necessary to lead in this transformative era.
LocationNew York, USA
DateJune 23-27, 2025
LanguageEnglish
Global Unicorn Program: Scaling for Success in the Age of AI
Global Unicorn Program Series
In collaboration with the Stanford Center for Professional Development (SCPD), this CKGSB program equips entrepreneurs, intrapreneurs and key stakeholders with the tools, insights, and skills necessary to lead a new generation of unicorn companies.
LocationStanford University Campus, California, United States
DateSeptember 29 – October 3, 2025
LanguageEnglish
Emerging Tech Management Week: Silicon Valley
Co-developed by CKGSB and UC Berkeley College of Engineering, this program equips participants with proven strategies, cutting-edge research, and the best-in-class advice to fuel innovation, seize emerging tech developments, and catalyse transformation within your organization.
LocationUC Berkeley
DateNovember 2-7, 2025
LanguageEnglish
