人民币国际化加速前进的“三重驱动”

Core Insights - The internationalization of the Renminbi (RMB) has made significant progress this year, gaining widespread attention and positive evaluations from overseas markets [1][2][3] Group 1: RMB Internationalization Progress - The International Air Transport Association announced the inclusion of RMB in its settlement currency list, allowing global airlines to settle transactions in RMB [1] - The People's Bank of China reported that the total RMB cross-border payment amount reached 34.9 trillion yuan in the first half of 2025, a year-on-year increase of 14.0%, making RMB the second-largest trade financing currency globally [1] - The issuance of RMB-denominated bonds has gained favor in international markets, with a notable example being the issuance of 60 billion yuan green sovereign bonds in London, which was oversubscribed by 6.9 times [1][2] Group 2: Factors Driving RMB Internationalization - The acceleration of RMB internationalization is attributed to three main forces: trade and industrial foundation, institutional and market tools, and changes in the global monetary system [2] - China's stable position in the global supply chain and the expansion of foreign trade have made RMB settlements an effective choice for reducing transaction costs [2] - The optimization of financial infrastructure and institutional arrangements, such as bilateral currency swap agreements and the expansion of the Cross-Border Interbank Payment System (CIPS), supports the internationalization of RMB [2] Group 3: New Developments in RMB Clearing - The opening of the RMB clearing bank by the Industrial and Commercial Bank of China in Turkey marks the official start of RMB clearing operations in the country, which is expected to create new business opportunities for Turkish enterprises [3] - The diversification of foreign exchange reserves has made RMB assets an attractive option for international investors, further facilitating the acceleration of RMB internationalization [3] - The resilience and elasticity of the RMB exchange rate have improved, making RMB assets a choice for international investors in their asset allocation over the next decade [3]