人大货币研究所王芳：人民币国际化正在推动国际货币格局缓慢调整

Core Viewpoint - The report from Renmin University indicates that the Renminbi Internationalization Index (RII) is on an upward trend, reflecting a gradual adjustment in the international monetary landscape driven by the internationalization of the Renminbi [1][3]. Summary by Relevant Sections Renminbi Internationalization Index (RII) - The RII values for the end of each quarter in 2024 are projected to be 4.84, 7.40, 6.30, and 5.68, with an annual average of 6.06, representing an approximate 11% increase from the 2023 average of 5.46 [1]. - The upward trend in RII indicates a significant increase in the Renminbi's role in trade settlement, financial transactions, and official reserves [1][2]. Key Drivers of Growth - The primary drivers for the growth of RII in 2024 are direct investment transactions and cross-border trade settlements, contributing 83.48% and 27.25% respectively [1]. - The highest growth rates in global shares for Renminbi loans and direct investments are 46.65% and 16.82%, marking them as highlights for the year [2]. Geopolitical Economic Risks - The report emphasizes that global geopolitical economic risks are expected to deepen, stemming from internal contradictions within the global economic and financial structure [3]. - The negative spillover effects of these risks impact China's real economy and financial markets, as well as the international trade and investment system [3]. Global Payment System Dynamics - The report notes a trend towards diversification in the global payment system and official reserve currencies, which correlates with the rise in the geopolitical risk index and the RII [4].