It is a pleasure to be the keynote speaker at the first-ever Luxembourg Renminbi Forum. I would like to thank Luxembourg for Finance for this opportunity to say a few words on the recent, rapid emergence of the renminbi as an international currency. Its new-found status is the result of China’s economic performance and part of a wider ongoing reform process in the country. So how will the internationalisation of the renminbi affect China, as well as the rest of the world? These are the issues I will address now.