ABSTRACT
The Federal Reserve had declared the long-brewing exit from QE before Christmas in 2013. The recovery of the developed market economics is taking shape gradually. The RMB Internationalization Index (RII) increased as much as 84 percent compared with 0.92 at the beginning of 2013. RMB internationalization should be further promoted by developing offshore market, and RMB offshore market's internationalization capability of serving Chinese companies and financial institutions needs improvement. China is now the second-largest foreign direct investment (FDI) receiver and the third-largest direct investor in the world. The international experience shows that the size of offshore transaction in the international financial centers determines the currency's international status. As a result, the basis of its internationalization is too infirm to last. China should take the historical chance of international financial center restructure to push forward the global layout of RMB offshore finance in an active and orderly manner.
