Cross-border RMB payments hits a new high, but still lags

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In the latest SWIFT RMB tracker report, usage of RMB in cross-border payments involving HK and China increased 36% to 12%, but still has ways to go.

 Up from 7.1% in May 2013, the May 2014 percentage of 12% is certainly an increase and an indication that the policies of the Chinese government to promote RMB usage are working, but how far will it go? Are the current policies sustainable enough to take the RMB all the way to being an accepted international trade currency?

Usage of RMB in cross border payments - Hong Kong China

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