China’s Central Bank to Develop Offshore Yuan Market in 15th Five-Year Plan

The emphasis on offshore renminbi market development and liquidity supply signals that Beijing is treating currency internationalization as an infrastructure project, not just a trade-settlement byproduct. That matters most for offshore hubs and for cross-border payment and settlement venues that would compete for renminbi flows. The open question is whether offshore liquidity expansion is matched by usable hedging and investment channels, since depth without two-way flow tends to limit real participation.