Core Insights - The People's Bank of China (PBOC) has been actively deepening foreign currency financial cooperation by signing bilateral currency swap agreements with multiple foreign central banks, enhancing the international use of the Renminbi [1][3] Group 1: Currency Swap Agreements - In 2023, the PBOC has signed or renewed bilateral currency swap agreements with eight foreign central banks, including the European Central Bank, the Swiss National Bank, and the Bank of Thailand [1] - As of September 30, 2023, the PBOC has established effective bilateral currency swap agreements with 32 countries and regions, covering major economies across Asia, Europe, Africa, the Americas, and Oceania [3] Group 2: Benefits of Currency Swaps - Currency swaps facilitate cross-border trade and investment, significantly promoting international economic development [4] - For example, the renewed currency swap agreement between the PBOC and the Central Bank of Brazil, which started in 2013, has helped deepen trade relations and maintain financial stability in the region [4] Group 3: Impact on Enterprises - Companies engaged in overseas operations can apply for local currency funding under the swap agreements, allowing them to quote and settle transactions in Renminbi or the counterpart's currency, thus stabilizing costs and profits [5] - This mechanism enables businesses to achieve more precise pricing and enhances their competitiveness in international markets [5] Group 4: Implications for the Renminbi - The expanding scale and scope of currency swaps indicate a growing willingness among countries to hold and use the Renminbi, reflecting an increase in its international recognition [6] - Currency swaps have become an essential part of the global financial safety net, enhancing financial autonomy and stability for participating countries [6]
本币互换规模和范围不断扩大 对我国经济有何作用
Ren Min Ri Bao·2025-10-13 01:45