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 Report
Related Articles
Related Articles
Our Programs
Building Digital Ecosystems
Jointly offered by CKGSB and IMD Business School, this program offers a comprehensive understanding of successful digital ecosystems from both China and the USA through the latest case studies and cutting-edge research.
LocationChina
DateNov 6-10, 2023
LanguageEnglish
Luxury Management: Food, Fashion & Furniture
Global Unicorn Program Series
Co-developed by CKGSB and SDA Bocconi School of Management, this program unravels luxury management—particularly in the food, fashion and furniture sectors—and emerging technologies, such as Fintech and AI.
LocationMilan
DateNov 13-16, 2023
LanguageEnglish
Emerging Tech Management Week: Silicon Valley
Co-developed by CKGSB, UC Berkeley College of Engineering, and IE Business School, 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 their organization.
LocationBerkeley, USA
DateNov 5-11, 2023
LanguageEnglish
Frontiers in Social Innovation
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, California, USA
DateDec 11-15, 2023
LanguageEnglish