俄总理访华报喜，中俄“去美元化”取得重大战果，中国是俄罗斯最大的对外贸易伙伴

Core Insights - The share of US dollars and euros in China-Russia trade settlements has dropped to "statistical error levels," indicating a significant shift towards local currency transactions [1][3] - In 2022, the proportion of trade settled in local currencies reached 50%, and by 2023, it surged to nearly 95%, reflecting a major transition in economic cooperation [3] - The increasing use of the Chinese yuan in trade signifies a growing trust from Russia, driven by the stability of the Chinese market and the need to reduce reliance on Western currencies [4] Economic Cooperation - The shift to local currency settlements is not just a numerical change but represents a critical step towards financial security and autonomy for both nations [3] - The cooperation in energy and raw materials trade has accelerated the exploration of local currency settlements, potentially reshaping global energy market pricing logic [4] - The ongoing Russia-Ukraine conflict has provided a unique context for the yuan's internationalization, prompting other countries to consider incorporating the yuan into their trade systems [4][6] Global Financial Order - The move towards de-dollarization by China and Russia poses a challenge to the existing global financial order, serving as a warning to countries reliant on the US dollar [6] - There are indications that this trend is spreading to other nations, with Russia beginning to request payments in yuan for oil from India, highlighting the yuan's expanding international role [6] - The de-dollarization wave is likely to continue as more countries recognize the risks of dollar dependency, leading to broader adoption of the yuan [6][8] Future Implications - The visit of Russian Prime Minister Mishustin symbolizes substantial progress in the de-dollarization efforts between China and Russia, with promising prospects for the yuan's internationalization [8] - This shift may accelerate the rebalancing of the global financial system and have profound geopolitical implications, as countries adapt to the changing economic landscape [8] - Nations that proactively adjust their economic structures in response to these changes may better position themselves for future uncertainties [8]