系列信号释放 人民币国际化进程加快

Core Viewpoint - The recent actions by the People's Bank of China (PBOC) indicate a significant acceleration in the internationalization of the Renminbi (RMB), with initiatives such as the launch of a cross-border QR code unified gateway and bilateral currency settlement frameworks with Indonesia and other central banks [1][2]. Group 1: RMB Cross-Border Settlement Expansion - The PBOC has initiated a bilateral currency settlement framework with Indonesia and a cross-border QR code interoperability project, which are expected to enhance the use of RMB in cross-border trade and investment [1]. - As of June, under the bilateral currency swap agreements, foreign monetary authorities utilized RMB balances amounting to 80.7 billion yuan, while the PBOC used foreign currency balances equivalent to approximately 400 million yuan, positively impacting bilateral trade and investment [1]. Group 2: Support for Internationalization Acceleration - The global payment currency ranking by SWIFT shows that as of August 2025, RMB remains the sixth most active currency globally, accounting for 2.93% of the total [2]. - The PBOC's Governor highlighted that the RMB's international status is steadily rising, ranking third in global trade financing currencies and as the third-largest payment currency according to the International Monetary Fund (IMF) Special Drawing Rights (SDR) basket [2]. - The RMB cross-border payment system (CIPS) now covers 189 countries and regions, processing 4.0295 million transactions worth 90.19 trillion yuan in the first half of 2025, serving as a crucial support for RMB internationalization [2]. Group 3: Economic Confidence and Future Prospects - The active role of RMB in global payments reflects the confidence of domestic and international economic entities in China's economy, bolstered by a series of incremental policies that have shown positive effects [3]. - As China's GDP share of the global economy increases, the attractiveness of RMB is expected to rise, further promoting its internationalization [3]. - The demand for asset diversification in emerging markets is anticipated to open doors for accelerated RMB internationalization in the coming years [3].