人民币太猛了！打破美元霸权，全球巨头排队抢用，中国这次玩真的

Core Viewpoint - The Chinese yuan, once considered a "regional currency," is now gaining significant traction on the international stage, with its share in global foreign exchange reserves reaching 2% by mid-2025, indicating a shift in the global financial landscape [1][20]. Group 1: Yuan's Role in Commodity Markets - The yuan's internationalization is being tested in the commodity markets, where historically, transactions have been dominated by the US dollar [3]. - In a significant move, by the end of 2025, China's Mineral Resources Group, along with domestic steel companies, negotiated to settle 30% of iron ore purchases in yuan, challenging the dollar's long-standing pricing mechanism [5]. - Algeria has also shifted 85% of its oil export orders to yuan, reflecting a broader trend among resource-exporting countries to reconsider their settlement currencies [5][6]. Group 2: Attracting Global Capital - To enhance the value of yuan-denominated assets, China has focused on attracting global capital through interest rate advantages and macroeconomic stability [8]. - In early 2025, China's Ministry of Finance issued $4 billion in sovereign bonds in Hong Kong, receiving subscriptions 30 times the issuance amount, signaling strong demand for yuan assets [10]. - Additionally, China issued €4 billion in bonds in Luxembourg tailored for European investors, further integrating yuan into international investment portfolios [10]. Group 3: Institutional Support for Yuan Internationalization - The internationalization of the yuan is supported by China's strategic planning, as outlined in the 14th Five-Year Plan, which includes specific tasks for cross-border capital flow and financial openness [14]. - Various regional pilot programs, such as the "Cross-Border Wealth Management Connect" in the Greater Bay Area and the "Free Trade Island" in Hainan, are designed to facilitate the international use of the yuan [14][16]. - The yuan is positioned as a viable alternative to the dollar, especially for developing countries seeking stable and low-cost settlement options [16]. Group 4: Shifting Global Financial Landscape - The current international financial landscape is transitioning from a "unipolar dollar" system to a "multipolar coexistence," with the yuan emerging as an important variable [18]. - Although the yuan's share is only 2%, its growth rate is the fastest among major currencies, indicating a shift towards reducing reliance on the dollar rather than outright replacement [18][20]. - Countries in the Middle East and Africa are increasingly considering the yuan for trade settlements and foreign reserves, reflecting a desire to diversify away from the dollar amid US-centric monetary policies [18][20].