Renminbi Internationalization: Background and Milestones (Take 15 Series—Conducted in Chinese)

CFA Institute Take 15 Series

Viewer note: This interview was conducted in Mandarin Chinese. An English translation of the interview is also available for download (PDF).

Tse Yung Hoi discusses the basic concepts, background, and key milestones of renminbi (RMB) internationalization, as well as lessons to be learned from the internationalization of the Japanese yen.

The second part of this interview discusses the RMB Qualified Foreign Institutional Investor (QFII) and RMB Foreign Direct Investment (FDI) schemes and the role that the RMB will play in the global monetary system over the next 5 to 10 years.

The Take 15 Series is a series of short interviews with leading practitioners on timely topics focused on the investment profession.


Photo of Yung Hoi Tse

Tse Yung Hoi is deputy chief executive officer of Bank of China International Holdings Ltd and the chairman of BOCI-Prudential Asset Management Limited. He is also the life honorary president of Chinese Securities Association of Hong Kong; the vice chairman of China Universities Alumni (HK) Association; independent nonexecutive director of China Life Insurance (Overseas) Co., Ltd; director of the Chinese General Chamber of Commerce; honorary advisor of Business and Economics Association HKUSU, vice chairman of the Chinese Academy of Governance (Hong Kong) Industrial Commercial and Professional Alumni Association Ltd; and senior vice chairman of Zhong Hua Construction Foundation Ltd. With more than 30 years' experience in international banking and finance industry, Mr. Tse has been fully committed to promoting the financial cooperation between mainland China and Hong Kong SAR. He is widely acknowledged as the advocate and forerunner of the "Hong Kong Stock Through Train Program." He has also promoted the internationalization of the renminbi. Mr. Tse was the recipient of the Special Award in the 7th Chinese "Top 10 Economic Talents" in 2010.

This information is accurate as of the date of recording.



  • Portfolio Management
  • Economics

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Length: 21min
Posted: 2/16/2012
Recorded On: 9/15/2011
CE Credits: 0.5 CE
  • Video Podcast