Huang Qifan, the former mayor of Chongqing, China, said that China's internationalization of RMB is not to replace the US dollar world status, but to maintain the stability of the global industrial chain supply chain.
Integrate the first financial and surging news reports, Huang Qifan, an academic consultant of the 40 -person forum of China Financial Thursday (September 5th) at the 6th Bund Financial Summit, was published around the RMB internationalization.Topic speech.
Huang Qifan said that in recent years, the internationalization of the RMB has accelerated, but in general, it has not matched the status of the Chinese economy in the world economy.In the future, there is still a lot of room for RMB internationalization, and there are still a lot of work to do.
He believes that China's internationalization is not to replace the US dollar world status, but to maintain the stable supply chain of the global industrial chain.Whether the renminbi can become a world currency depends on the needs of the world economic development.
Huang Qifan said that with the further development of economic globalization and the further improvement of China's open level, the breadth depth of China and global exchanges will be further expanded.Accepting, its internationalization process will be improved, but it must not be considered that the RMB can replace the US dollar world status.
He also said that if China wants to build a strong financial country, it needs strong currency, but this power is matched with its own economic development and the strong serving the real economy, not the reduction of assets to grow assets.Bubbles, harvesting other countries for wealth, and sanctioning other countries.
Huang Qifan pointed out that in recent years, the internationalization of the renminbi has made significant progress, especially when the spread between the RMB and the US dollar has expanded, the comprehensive index of the RMB internationalization index will not rise, andInvestment and financing, valuation, and reserves have made significant progress.
According to SWIFT data, in December 2023, the use of RMB in global payment and liquidation reached 4.14%, an increase of nearly two percentage points compared to the same period in 2021. It is currently the fourth largest payment settlement settlement.currency.In terms of reserve currency, since August 2022, the latest special withdrawal rights (SDR) currency baskets of the International Monetary Fund (IMF) officially took effect, and the weight of the RMB was raised from 10.92%to 12.28%.
Huang Qifan believes that promoting the internationalization of the renminbi can continue to promote China's cross -border trade in the aspect of RMB and the settlement of RMB, and continue to improve services at the same time to provide cross -border new business and new models such as cross -border e -commerce companiesRMB settlement services; continue to expand opening, provide more convenient investment and financing services for "introduction" and "going out", and can also advance from accelerating the development of the offshore market.
