Although currency internationalization is not tantamount to capital-account liberalization, progress on the former presupposes progress on the latter. By allowing enterprises to choose currencies for trade settlement, and creating renminbi “recycling mechanisms,” the government effectively eased the restrictions on short-term cross-border capital flows.
实际上，类似的加速动作自2009年中国政府开始人民币国际化进程以来就开始了。尽管货币国际化并不等于资本帐户自由化，但是在前者上取得的进展是后者得以推进的前提条件。通过允许企业自由选择货币进行贸易结算并创设“人民币回收机制”，中国政府有效放宽了针对短期跨境资本流动的限制。