本币互换对我国经济有何作用

Core Viewpoint - The People's Bank of China (PBOC) has signed bilateral currency swap agreements with 32 countries and regions, enhancing international monetary cooperation and promoting economic development through increased liquidity and trade facilitation [1][3]. Group 1: Currency Swap Agreements - The PBOC has renewed bilateral currency swap agreements with the European Central Bank, Swiss National Bank, Hungarian National Bank, and Bank of Thailand in 2023, among others [1]. - As of September 30, 2023, the total scale of currency swap agreements reached approximately 4.5 trillion RMB, providing stable RMB liquidity globally [3]. Group 2: Benefits of Currency Swaps - Currency swaps facilitate cross-border trade and investment, allowing businesses to settle transactions directly in their local currencies, thus avoiding the complexities and costs associated with converting currencies through the US dollar [2][4]. - For example, the renewed currency swap agreement between China and Brazil, which started in 2013 with a scale of 190 billion RMB, has strengthened trade relations, making China Brazil's largest trading partner for 15 consecutive years [4]. Group 3: Impact on Enterprises - Companies engaged in international trade can apply for local currency funding under the swap agreements, enabling them to quote and settle transactions in RMB or the counterpart's currency, thus stabilizing costs and profits [5]. - This mechanism allows for more precise pricing and long-term planning, enhancing competitiveness in international markets [5]. Group 4: Implications for RMB Internationalization - The expansion of currency swap agreements indicates a growing willingness among countries to hold and use RMB, reflecting an increase in the international recognition of the currency [6]. - Currency swaps have become a crucial part of the global financial safety net, enhancing financial autonomy and stability for participating countries [7].