In the 2013, the rapid development of the RMB has continued:

• first cross-border lending transactions was completed in January 2013
• cross-border lending has been fully rolled out, and several banks are now able to process transactions without prior approval. For some corporates trapped cash issues have disappeared
• cash pooling structures for RMB are being developed using either a pool in China that leverages a multi-currency notional pooling structure in London, or through a physical RMB pooling structure that allows for all the companies in the group that have RMB flows
• Standard Chartered Renminbi Globalisation Index, the RGI, reached 1,183 in September, up 3% from the previous month and 62%+ year-on-year. While  SWIFT RMB Tracker showed strong growth in Q3 2013. This puts Europe on a path to overtake Asia in RMB customer payments
• the competition between the different jurisdictions, e.g. Shanghai v. Beijing, is accelerating the internationalisation and liberalisation of the RMB. 

The only issue is how far will the RMB be internationalised and liberalised in 2014.