久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

How China steadily advances RMB internationalization

Xinhua | Updated: 2022-10-12 12:00
Share
Share - WeChat
File photo shows a worker counts Chinese currency renminbi at a bank in Lianyungang, East China's Jiangsu province. [Photo/Xinhua]

BEIJING - With solid efforts to promote yuan internationalization, China has seen a strengthened role of renminbi (or RMB) across the board, from international payment and settlement, investment and financing, and reserves to pricing.

The People's Bank of China (PBOC), the country's central bank, published an article Sunday, saying it will steadily advance the currency's internationalization and make it more convenient to use the yuan in cross-border trade and investment.

The following are some facts, figures, and policy priorities of the central bank in prudently boosting the yuan's international usage.

Remarkable progress

After decades of development, the RMB has shown vigorous vitality and secured more global visibility. Currently, nearly half of all cross-border transactions conducted by Chinese financial institutions, enterprises, and individuals are settled in the renminbi.

With the RMB exchange rate becoming more flexible and two-way fluctuations becoming the norm, market players have a stronger intention to use RMB in cross-border trade and investment to reduce currency mismatch risks.

China's cross-border RMB receipts and payments in non-banking sectors reached 27.8 trillion yuan ($3.91 trillion) from January to August, up 15.2 percent year-on-year, according to data from the central bank.

Thanks to the opening up of China's financial market, the yuan has played a bigger role in investment and financing. The share of securities investment in cross-border RMB receipts and payments increased from about 30 percent in 2017 to around 60 percent in 2021. Since 2017, RMB bonds have been included in three international bond indexes.

In recent years, the need for the world's central banks to hold renminbi reserves has increased significantly, thanks to the diversification trends of reserve assets and the inclusion of the renminbi in the International Monetary Fund's Special Drawing Rights basket.

The share of the Chinese yuan in the Special Drawing Rights basket has risen from 10.92 percent in 2016 to 12.28 percent in May 2022, reflecting a growing recognition worldwide of the improvement in the free use of the renminbi.

In the process of renminbi internationalization, China upholds the principle of letting the market be the driver and pursues mutual benefits and win-win cooperation. The PBOC said that using RMB in neighboring countries and Belt and Road countries has injected impetus into local economic development.

Future outlook

In the future, the central bank will strengthen coordination between domestic and foreign currencies, facilitate market entities to use RMB more, and promote innovation in RMB cross-border investment and financing.

It also pledged to improve the liquidity of renminbi-denominated assets, simplify the process for foreign investors to enter the Chinese market, and enrich the types of investable assets.

More efforts will be made to explore cooperation on local currency settlement with the ASEAN (Association of Southeast Asian Nations) countries and neighboring countries, promote direct trading between RMB and relevant currencies, and support overseas countries and regions in developing local RMB foreign exchange markets.

The central bank will also improve the offshore RMB liquidity supply mechanism and give full play to the positive role of clearing banks in cultivating the offshore RMB market.

Currency internationalization is a long-term process and a result of improved overall national strength as well as financial development, the PBOC noted.

The RMB is inevitably becoming a global currency as China grows stronger and deepens its reform and opening up. Meanwhile, a rising international status of the yuan also reflects the international community's confidence in China's economic development, said the PBOC.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 日韩美女视频一区 | 成人看免费一级毛片 | 久久精品三级视频 | 欧美一区不卡二区不卡三区 | 国产成人毛片精品不卡在线 | 一级片在线观看 | 日产国产精品亚洲系列 | 精品成人久久 | a级一级黄色片 | 狠色狠狠色狠狠狠色综合久久 | 国产精品亚洲综合网站 | 日韩亚洲成a人片在线观看 日韩亚洲精品不卡在线 | 国产精品视频视频久久 | 在线观看 一区 | 亚洲国产成人久久精品影视 | 亚洲欧美日韩国产制服另类 | 亚洲一级毛片免费观看 | 久久精品国产亚洲a | 国产区一区二区三区 | 国产精品亚洲精品日韩已满 | 亚洲欧美国产日韩天堂在线视 | 日本一区二区三区在线 视频 | 中文字幕一区二区三区精彩视频 | 美女作爱网站 | 欧美yyy | 成人三级精品视频在线观看 | 日本大黄网站 | 成人网18免费网站在线 | 欧美色大成网站www永久男同 | 天天狠操 | 亚洲一级毛片中文字幕 | 国产精品国产亚洲精品不卡 | 欧美另类性视频在线看 | 精品日本一区二区三区在线观看 | 国产成人av在线 | 图片区偷拍区小说区 | 日本一在线中文字幕天堂 | 99视频在线观看高清 | 国产精品毛片久久久久久久 | 亚洲成在线观看 | 日韩成人在线观看 |