Not according to the authors of ANZ's new RMB handbook who argue despite the volatility - and indeed as part of it - the Chinese government is still preceding with a more market-oriented financial system.
"The economic foundation is still sound and healthy."
Lucy Chen, ANZ global head RMB products
Meanwhile, for business both within and outside China, the ongoing internationalisation of the RMB will be a critical business focus.
In this cross-border interview with BlueNotes, the authors, Raymond Yeung (senior economist), Daniel Everett (head of RMB) and Lucy Chen (global head of RMB products) unpick the complexity of an emerging global currency.