全球资本迎来“大航海时代” 人民币资产重绘全球投资格局

Group 1 - The establishment of the Saudi delivery warehouse at the Shanghai Gold Exchange marks a significant shift in global financial dynamics, challenging the long-standing "dollar-oil" structure and promoting the renminbi as a new pricing power alongside gold [1] - The Shanghai gold pricing benchmark is expected to emerge as a third pole alongside London and New York gold markets, enhancing the demand for renminbi assets and driving a chain reaction of "pricing power-currency demand-asset growth" [1] - The recent US-China trade negotiations have led to a temporary suspension of tariffs, positively impacting market sentiment and resulting in significant gains in US and Chinese stock indices [2][3] Group 2 - The Chinese bond market has reached a scale of 183 trillion yuan, making it the second largest globally, with foreign investment in domestic bonds increasing significantly [4] - The inclusion of Chinese bonds in major global indices since 2019 has enhanced their attractiveness, with a total return rate of 4.8% in 2023, outperforming US and European government bonds [4] - The establishment of the Saudi delivery warehouse is a crucial step in the internationalization of the renminbi, allowing overseas investors to trade gold directly in renminbi, thus broadening the access to offshore renminbi [5] Group 3 - The renminbi has appreciated against the US dollar, driven by China's economic resilience, with forecasts suggesting further strengthening in the coming months [6] - China's GDP has consistently surpassed significant milestones, contributing 30% of global economic growth even amid a sluggish global economy [6] - The ongoing financial market reforms and the internationalization of the renminbi are expected to position it as a safe haven for global investors, reshaping the investment landscape [7]