Continue to promote the internationalization process of RMB
May 09:12, May 09, 2022 Source: "China Social Sciences", May 9, 2022, Issue 2401, author: This reporter Zhao Yuan

As an important direction for my country's financial opening,RMB internationalization refers to RMB throughout the border,Circulation abroad,Become a generally recognized price internationally、Settlement and reserve currency process。What opportunities and challenges are facing RMB internationalization? Where will the RMB internationalization go?。

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RMB internationalization is necessary。Professor Feng Yongqi, a professor at the School of Economics, Jilin University, said,In the current world economy operation,The impact of geopolitical factors is increasingly enhanced。Although the nature of the US dollar as a hedging asset and the status as a major international reserve currency will not change,But the risks in the US dollar system are increasingly prominent,A certain warning has been generated Bet365 app download on the optimized arrangement of foreign exchange reserves on the optimized arrangement of various countries。So,The current international environment highlights the necessity of the internationalization of the RMB,It also provides development opportunities for RMB internationalization,Especially the status of RMB as a foreign exchange reserve will increase。Of course,The international economic environment is full of uncertainty,RMB internationalization also faces severe challenges。

Rolf Langhammer, a professor at the Kill World Institute of Economics, Germany, said,With the arrival of low growth and continuous inflation,The world economy is about to enter a recession or stagflation period。This is the development prospect of damage to global trade,Lead more "decourse",Obstacles to the internationalization process of the RMB。other,Some multinational companies in Europe,Tension of geopolitical situations may make the risk of investing in China.,This is not conducive to the internationalization of RMB。

  Accelerate the internationalization of RMB

International trade is an important force to promote the internationalization of the RMB。Alicia Garcia-Herrero, Bet365 app download a senior researcher at the Belgian Institute of International Economic Research Institute of Belgium, said in an interview with reporters,2003,Ronald McKinnon, a professor at economics at Stanford University in the United States, proposed four key features of international currencies,Sales Media、Value storage means、Accounting Unit、Delay payment standard。People can study the trend of RMB internationalization based on these four key features。After the epidemic of new crown pneumonia,China's export has experienced rapid growth。Promotion of the internationalization process of RMB,Along with the continuous growth of cross -border payments processed through the RMB cross -border payment system (CIPS) in the third quarter of 2020。The latest data show of the Global Bank Financial Telecom Association,December 2021,The proportion of RMB in international payment rises to 4th,More than the yen。other,Geopolical risk increases the urgency of digital RMB development,and the development of digital RMB will also promote the internationalization process of RMB。But,Garcia-Elero said,Although the scale of RMB in direct investment bet365 best casino games in foreign direct investment increases significantly,But compared to China's economic volume,The scale of the RMB still has a large room for improvement。

For the future development of the RMB internationalization,Feng Yongqi thinks,First,The positioning of the positioning of the RMB internationalization,RMB internationalization should be an important means to support the rise of China's economy and sustainable development,It is not a purpose。Next,The core issue of the RMB internationalization is how to obtain a wide range of overseas market demand,Enhance the willingness of overseas economic entities to hold RMB,Especially the "third party" demand for RMB。again,We must pay attention to the issue of international monetary power,Currency issues not only involve economic benefits,Also accompanied by the existence of power。The internationalization of currency will naturally involve and affect the relationship between the original international currency power。Last,It is necessary to attach great importance to the basic role of the development of the domestic financial market for the internationalization of RMB。

bet365 live casino games Actively promote the internationalization and sustainable development of the RMB。Feng Yongqi said,From the perspective of specific measures: first,Strive to enhance the toughness of the domestic financial system,Improve the development of the domestic financial market。The essence of currency internationalization depends on the development of the domestic financial market,To build a developed、Domestic financial markets with breadth and depth,Ability to enhance the risk of the financial system。2,It is necessary to steadily promote high -quality capital project opening and institutional openness of the financial industry。Continuously improved in the domestic financial system and financial market,and market -oriented macro -prudential management ability is continuously improved,Capital projects in key areas are open。At the same time,Improve the financial supervision system,Enhanced financial supervision capabilities,Gradually realized the change of the financial industry from channel open to institutional openness。third,Accelerate the establishment of the international community、Bet365 app download Financial infrastructure such as safe running RMB payment and clearing system。By continuously accelerating the connection with other countries' payment systems,Construction of RMB cross -border payment system,Enhance the independent operation ability and international influence of China's international payment system。Fourth,Promote the internationalization of RMB under the US dollar system。RMB internationalization is not to get rid of or even subvert the US dollar system,but to reduce the risk brought by the system。In the internationalization process of the RMB in the future,To make full use of favorable international economic and political factors,Strive more opportunities to promote the continuous deepening and development of RMB internationalization。

Editor in charge: Cui Cen
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