The International Monetary Institution of Renmin University of China (IMI) publishes reports on the internationalization of RMB, consisted of the Renminbi Internationalization Index (RII) it created and one topic, the off-shore RMB markets. This book summarizes theoretical implication between currency internationalization process and its off-shore market development by studying several major international currencies¡¯ historical developments. It reviews the recent development of RMB off-shore markets, identifies key opportunities and challenges, and proposes some suggestions to policy makers and market practitioners. It presents the belief that the RII will continue to rise as Renminbi plays a more and more important role in international trades and financial transactions. The establishment and development of Renminbi off-shore markets will facilitate the internationalization process of RMB.