在实现人民币国际化的过程中可能面临的挑战

中国的官方货币（人民币）已经开始成为国际性的货币，但是在此过程中人民币的境外市场的发展可能对中国的金融市场提出挑战。银行和保险公司正在使用这些境外人民币创建境外外汇、货币和债券市场，因此银行间的资金流入也可能会提出新的政策挑战。最终，境外的银行将绕开国内银行而直接对中国的公司提供人民币信贷，这就可能使中国当局的政策性杠杆处于危险境地。

Prospective Challenges of Renminbi Internationalisation

the Chinese Renminbi has begun the process of becoming an international currency, but in the process the development of the Renminbi’s offshore market can be expected to pose challenges to China’s financial development. Using these offshore Renminbi, banks and underwriters build offshore foreign exchange, money and bond markets, so interbank inflows would pose policy challenges. Eventually, banks offshore will extend Renminbi credit directly to firms in China, bypassing domestic banks altogether and putting at risk some of the policy levers of the authorities.