Speaking at the China Forum 2014 held in SMU on Tuesday, Professor Yuan Zhigang, Dean of the School of Economics and Dean of the China (Shanghai) Institute for Free Trade Zone Research at Fudan University, said that as a settlement currency, reserve currency and investment currency, the renminbi (RMB) has moved the slowest as an investment currency. In the long run, RMB should become an investment currency, hence there is a need to develop many more financial products, including derivatives. This is also one of the objectives of Shanghai Free Trade Zone, as in providing an avenue for offshore RMB to invest in China. Prof Yuan added that the internationalisation of RMB is likely to help accelerate financial reforms in China.