Moves afoot to boost RMB usage in capital markets

Liberalization of cross-border investments is a tough task but inevitable in order to facilitate international usage of the renminbi. Fortunately, financial opening-up measures confirm the country's determination to go through the process, no matter what, experts said.

Further encouraging external investors to use the RMB to buy bonds and shares in the mainland, has been listed on the financial regulator's to-do list in the context of deepening internationalization of the Chinese currency, according to the central bank.

"The People's Bank of China is carrying out a considerable reform for the unification of regulatory requirements for the opened (cross-border) investment channels," said Pan Gongsheng, vice-governor of PBOC and the administrator of the State Administration of Foreign Exchange.