Looking ahead to the prospects of the RGI, the report points out that although the impact of trade policies may be reflected in the RGI accounting in the next one to two months, the process of the internationalization of the RMB still presents some key positive factors: First, the RMB has not depreciated significantly and has appreciated by about 0.8% against the US dollar so far in the second quarter. Second, global trade flows have not shrunk significantly; Third, several structural positive factors for promoting the international use of the RMB are still at play.

Public information shows that the RMB Global Index (RGI) was officially launched by Standard Chartered Bank in November 2012. It aims to systematically assess the internationalization level of the RMB through five core indicators: offshore RMB deposits, cross-border payments, foreign exchange transactions, bond issuance and onshore asset holdings.