The historical development process of RMB can be traced back to the founding of the People's Republic of China in 1949.

In this process, the RMB has experienced multiple stages of evolution and reform.

The original RMB was based on the gold standard system, with its value tied to a certain amount of gold.

However, in the late 1950s, due to domestic and foreign factors, China had to abandon the gold standard system, and the value of the RMB began to depreciate.

In the 1980s, China carried out economic reform and opening up, and the RMB gradually implemented market-oriented reforms.

During this period, China adopted a dual exchange rate system, promoted foreign exchange marketization, gradually relaxed foreign exchange controls, and promoted the marketization of the RMB exchange rate.

Entering the 21st century, China has gradually strengthened its efforts to promote the internationalization of the RMB.

In 2009, the Chinese government announced a series of measures, including expanding the use of the renminbi in cross-border trade and issuing offshore renminbi bonds, aimed at improving the international status of the renminbi.

In 2015, the RMB was officially included in the International Monetary Fund's Special Drawing Rights (SDR) currency basket, which is regarded as an important milestone in the internationalization of the RMB.

So far, RMB has become the fifth largest payment currency in the world, is widely used internationally, and international RMB business continues to grow.