CKGSB Knowledge Authors

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.

CKGSB March 2015 China Data
(Click to enlarge)

Enjoying what you’re reading?

Sign up to our monthly newsletter to get more China insights delivered to your inbox.

Our Programs

Frontiers in Digital Innovation: AI, Future of Tech & Data Science

Global Unicorn Program Series

This program offers you the opportunity to master AI algorithms and data analytics, navigate future technology landscapes, and embrace cross-cultural perspectives.

LocationColumbia University, USA

DateMay 20-24, 2024


Learn more

The Biotech Accelerator Unicorn Program

Global Unicorn Program Series

This program equips CEOs and founders in the life sciences and biotechnology industry with the essential knowledge and connections needed to thrive in this rapidly evolving sector.

LocationUniversity of California, San Diego, USA

DateSeptember 9-13, 2024


Learn more

Emerging Tech Management Week: Silicon Valley

This program offers insights into emerging technology developments and the skills required to innovate, grow, and transform your business strategy.

LocationUniversity of California, Berkeley, USA

DateNovember 3-8, 2024


Learn more