The Monetary Authority of Singapore is the first central bank to assign renminbi assets as foreign reserves. Other central banks are tipped to follow suit and boost their RMB investments.
A British exit from the EU would have ramifications beyond what many have considered, such as threatening an implicit deal with China, argues Jan Dehn, head of research at Ashmore.
The International Monetary Fund's designation of the renminbi as a global reserve currency is expected to have a gradual, but major impact on investment portfolios.
The renminbi has a good chance of being included in the IMF's basket of international currencies this year, a senior Standard Chartered strategist says. It follows the IMF's proposal to delay a possible inclusion.