The 20th report of the Party pointed out，"Orderly Promote the Internationalization of RMB"。In recent years，With the continuous increase in China's economic strength and the improvement of the level of opening up，The road to internationalization of the RMB is getting stable and stable。The "RMB International Report (2021-2022)" released by the China Banking Association on October 27 shows，2021 RMB becomes the second largest common currency in China cross -border income and expenditure、The eighth largest common currency of global foreign exchange transactions。Australia's "Sydney Pioneer Morning News" also published an article thinking，RMB internationalization is adopting a long -term and gradual way to develop，and focus on the development of the development in the scope of the Asia -Pacific and developing economies。With the continuous advancement of the "Belt and Road" together，RMB will play a greater role in the international currency market。The development of the internationalization of the RMB、How to better promote regional economic development、How to play a greater role in the world，Our reporter interviewed relevant scholars。

 

　RMB becomes an international currency marketImportant participants

RMB internationalization refers to the circulation of RMB across national borders，Become a generally recognized price internationally、Settlement and reserve currency process。The Brookings Society of the United States Global Economic and Development Senior Researcher ESWAR PRASAD believes，China has become the world's second largest economy，It is an important engine of world economic growth。But the status Bet365 app download of the RMB is not commensurate with its weight in the world economy，With the reform of China's economic and financial system，RMB will gradually become an important participant in the international financial market。

 

Isabella Dobrescu, a professor at the Department of Economics, New South Wales University of Australia, told this reporter，Around 2010，The Chinese government has begun to promote the internationalization of RMB。From then on，RMB has gradually become the fifth major currency in the international payment system。2016，International Monetary Fund to incorporate RMB into a special withdrawal right currency basket，Make it an internationally official reserve currency。This is a milestone incident，Not only does Chinese currency continue to approach the center of the international financial market，It also means that China is more deeply integrated into the reform of global financial governance。Subsequent，RMB valuation assets occupied by the global foreign exchange reserves have been stable at about 2%。Although capital outflow brings a depreciation pressure to the renminbi，But a series of international RMB internationalization policies that the Chinese government continues to launch，and China has opened the stock and bond market for foreign investors，Let the international market see the toughness and stability of the international development of the RMB。The Chinese government has been promoting the use of RMB abroad，Approves 27 RMB liquidation banks covering 25 countries and regions。The Chinese government established a RMB cross -border payment system (CIPS) has covered more than 3,600 legal person banking institutions in 178 countries and regions，facilitated the use of RMB between enterprises for commercial transactions，reduced the loss caused by the fluctuation of the US dollar and euro bet365 live casino games exchange rate to the enterprise。It can be said，With these measures，Renminbi has been applied more in the valuation and settlement of cross -border trade and financial transactions，It has become the medium for international currency exchange。

 

Jeffrey Frankel, a professor of economics at Harvard University of Kennedy Government College, also affirmed the achievements of RMB international development。He mentioned，In international trade，The use of RMB has been growing steadily。The internationalization of the RMB is not only manifested as the rapid development of the RMB bond market in the Hong Kong Special Administrative Region，It is also manifested as the rapid growth of the RMB deposit market。Many international trade exchanges began to use RMB as a price tool，The central banks of many countries have begun to use a large number of RMB as reserve currency。

 

Professor Barry Eichengreen at the University of California, Berkeley, Professor of Economics and Political Sciences at the University of California, recently released an article on the official website of the European Think Tank Economic and Political Research Center on the European Think Tank Economic and Political Research Center。Article thinks，RMB can play a more important role in the future currency market，This process involves trade invoices and settlement、The central bank's exchange quota and the offshore RMB market。The ultimate purpose of the RMB internationalization may not replace the US dollar，Occupy the dominant position of the global currency market，Instead, build a more polarized global financial market。

 

Some economists point out，If the capital account of China is not fully opened，RMB cannot develop into international reserve currency。The assumption of this view is，If countries cannot easily buy and sell RMB in the international bet365 live casino games market，I will not reserve RMB。20th Century，The rise of the dollar and the pound as the major international currency is based on this model。but，Aikigling and others think，The international road of RMB may be expanded in an extraordinary model。Open exchanges to the capital account completely，It may cause input crisis and weaken the control of the economy，So for the central bank，The best solution is to seek a balance between development and safety。So，Entering the Chinese capital market without restriction is not a necessary condition for the internationalization of the RMB。On the contrary，China can realize the internationalization of RMB by using RMB in foreign trade and payment。Aikigling and others found through research，RMB as the development of reserve currency and the expansion of RMB trade has become a reality。Future，In import financing、debt repayment、The help of the mechanism of currency swap and offshore market，RMB will play a greater role in the international financial market。

 

　　RMB internationalization and strong maintenanceRegional economic security and stability

Orderly promoting the internationalization of RMB is an inevitable demand for the orderly opening of China's economy，Also attracting foreign capital、Powerful support for stimulating the vitality of global trade。As the Asian Project of the Carnegie International Peace Foundation、Technical and international affairs projects are very resident of Robert Greene，With the intensification of the global turmoil、Geopolical risk rising，The probability of systematic risks in the international monetary system is also rising，Orderly promotes the internationalization of the RMB in line with international financial institutions、Personal and corporate investors' demand for RMB，It is also conducive to supporting the development of China's economy。

 

In the past few years，Due to the spread of the bet365 Play online games new crown pneumonia's epidemic，The international economy is seriously affected，With the continuous rise of inflation，Some countries and institutions worry about economic globalization。Current，Global economic development is at a critical moment，The attention of international investors has shifted to the international financial market again，The strong growth of China's economy has also injected new vitality into the international financial market reform。2013，China's first free trade zone was completed in Shanghai，It has now expanded to 21。According to the statistics of the People's Bank of China，In 2021, the number of cross -border receipts of the nationwide across the country totaling 3.66 trillion yuan，increased by nearly 30 % from the previous year。RMB cross -border receipts accounted for 48.4%。From the development of the RMB bond market，The international development of the RMB has continued to deepen。As of the end of 2021，Overseas institutions and individuals hold 4.09 trillion yuan in domestic bonds，increased by 755.376 billion yuan in the whole year。

 

Dobresku said，RMB internationalization not only brings many dividends to the Chinese economy，It also injected new vitality into regional economic development。According to relevant research, it is displayed，ASEAN and "Belt and Road" countries have become key areas for cross -border trade RMB settlement growth。The "Regional Comprehensive Economic Partnership Agreement" (RCEP), which takes effect from January 1, 2022 as the Asian Trade Corridor，It can provide new motivation for the renovation of RMB。The effective implementation of RCEP，promoted free trade in the region，90%of tariffs between RCEP member states will be gradually canceled in the next 10-15 years。According to the Asian Development Bank evaluation，By 2030，RCEP bet365 Play online games may increase an income of $ 245 billion in the region each year。Economic cooperation between countries along the "Belt and Road"，Forms a new area of ​​deepening cooperation across the Asia -Europe Mainland，The key role of RMB as a key role in the circulation of currency circulation among countries along the line。Related theoretical research and empirical research results show，Improve the proportion of RMB in the region，Can effectively prevent financial risks in the area、Reduce transaction costs，Enhance the overall competitiveness of the regional economy and the level of collaborative development，Can provide new risk management mechanisms for countries along the route，Build a financial security anchor，Make a significant contribution to maintaining the stability of regional economic and financial。

 

How to play a greater role in the international financial market for the renminbi，Dobresku thinks，Digital currency/digital payment launched by the People's Bank of China may become an important innovation for cross -border payment systems。In recent years，The rapid development of the digital economy，It has become an important economic development of an important economic development with the real economy。Digital currencies based on technology have new characteristics。For example，Blockchain technology uses a distributed accounting system to mark the global trade flow，Make cross -border trade value distribution more fair。other，Cross -border settlement with digital currency as a medium can also shorten the settlement time，Reduce the cost of liquidation，Improve cross -border settlement efficiency。Digital currencies also help strengthen the supervision of currency flow，Effectively curb the occurrence of criminal acts，Therefore, it is fair to build、More efficient global trade pattern plays a positive role in promoting。

 

bet365 best casino games In short，RMB will eventually become a currency widely used in international trade and financial systems。As Frankl said，As long as China continues to make progress in the financial field and other market -oriented reforms，RMB may become a more important international reserve currency in the next 10 years。