“十五五”规划信号清晰，人民币国际化表述强化

Group 1 - The "14th Five-Year Plan" emphasizes the importance of expanding high-level opening-up, particularly in financial openness and the internationalization of the Renminbi [1][2] - The plan aims to enhance the capital account opening level and establish a self-controlled cross-border payment system for the Renminbi [1][2] - The report from China International Capital Corporation (CICC) highlights that financial openness will play a crucial role in addressing the imbalance between China's financial strength and real economy [1][3] Group 2 - The State Administration of Foreign Exchange (SAFE) has outlined a roadmap for steadily expanding high-level institutional opening in the foreign exchange sector, promoting the internationalization of the Renminbi [2] - The People's Bank of China (PBOC) aims to enhance the international functions of the Renminbi in pricing, payment, investment, financing, and reserves [2] - The cross-border payment system for the Renminbi (CIPS) has shown significant growth, processing 8.22 million transactions worth 175 trillion yuan in 2024, marking a 24% and 43% year-on-year increase respectively [2] Group 3 - The Renminbi has become the largest currency for cross-border payments in China and ranks among the top three currencies for trade financing and payments globally [3] - The "15th Five-Year Plan" suggests that the current international landscape presents a favorable opportunity for promoting the internationalization of the Renminbi [3] - CICC's report identifies three main directions for financial openness: facilitating safe and efficient outbound capital, bringing in advanced overseas financial expertise, and leveraging the Hong Kong market [3]