Development of the Renminbi Market in Hong Kong SAR : Assessing Onshore-Offshore Market Integration »
Series: IMF Working Papers
Author(s): R. Craig , Changchun Hua , Philip Ng , and Raymond Yuen
Publisher: Bank of Communications/New Finance
Publication Date: 17 June 2014
Keywords: Foreign exchange transactions, Capital account liberalization, Capital account, Capital controls, Economic integration, Exchange rates, Capital flows, Foreign direct investment, China, People's Republic of, Hong Kong Special Administrative Region of China
Offshore use of the renminbi expanded rapidly in Hong Kong SAR as China sought to develop an international role for its currency while maintaining capital controls. This prompts two questions addressed in this pape...