大调整！货币支付：欧元上涨至23.5%，人民币跌破3%，怎么回事？

Core Insights - The share of Renminbi (RMB) in global payment markets has significantly dropped to 2.89%, falling below the 3% mark and ranking sixth globally, overtaken by the Canadian dollar [1][2] - The decline in RMB's payment share is attributed to various factors, including market fluctuations and the diversification of RMB settlement channels, rather than solely the impact of trade tensions [2][7] Payment Share Overview - As of May 2024, the US dollar remains dominant with a 48.46% share, followed by the euro at 23.5%, which has increased by 1.4 percentage points [1] - The British pound holds a 7.1% share, while the Japanese yen and Canadian dollar account for 3.7% and 3.11% respectively, showing little change from previous months [1] RMB Payment Trends - RMB payment share fluctuated throughout 2024, peaking at 4.74% in July before declining to 2.9% in October, indicating normal monthly volatility rather than a definitive setback in internationalization [2][7] - The RMB's previous rise to the fourth largest payment currency was short-lived, with its share dropping significantly in recent months [2] CIPS and Internationalization Efforts - The China International Payment System (CIPS) is increasingly facilitating RMB settlements, with 180 direct participants and over 1,500 indirect participants across more than 180 countries [5] - CIPS processed 175 trillion RMB in cross-border payments in 2024, marking a 43% year-on-year increase, and has expanded its reach by adding new overseas financial institutions [5] Future Outlook - Despite the challenges faced by RMB internationalization, including significant gaps compared to the US dollar and euro, the potential for growth remains strong [7] - The rise of CIPS and the expansion of RMB swap agreements are seen as key drivers for the future of RMB internationalization [7]