Core Viewpoint - The forum held in Colombo focused on the significance of expanding the use of the Renminbi (RMB) in Sri Lanka, emphasizing its potential to enhance financial cooperation and facilitate trade and investment [1] Group 1: RMB Usage and Economic Impact - The use of RMB in Sri Lanka is expected to diversify foreign exchange reserves, reduce exchange rate risks, and provide a more stable and cost-effective settlement channel, thereby enhancing macroeconomic resilience [1] - Establishing a direct RMB settlement mechanism will effectively lower transaction costs and mitigate exchange rate volatility risks, offering businesses more stable and efficient financial services [1] - The cross-border use of RMB will aid Sri Lanka in achieving trade diversification, enriching foreign exchange funding sources, and improving the resilience of its financial system [1] Group 2: Financial Cooperation and Future Directions - Participants at the forum emphasized the need to continue improving financial cooperation mechanisms, expand the scale of local currency settlements, and promote bilateral financial connectivity [1] - Strengthening financial support for economic and trade exchanges between China and Sri Lanka is seen as crucial for both countries [1]
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