人民币国际化加速前进的 “三重驱动”

Core Insights - The internationalization of the Renminbi (RMB) is progressing positively, with increasing cross-border usage and a growing offshore RMB market, attracting global attention and favorable evaluations [1][2]. 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]. - As of mid-2025, the total RMB cross-border payment amount reached 34.9 trillion yuan, a year-on-year increase of 14.0%, making RMB the second-largest trade financing currency globally and the third-largest payment currency [1]. - The issuance of RMB-denominated green bonds is gaining traction, with a notable example being the issuance of 6 billion yuan green sovereign bonds in London, which was oversubscribed by 6.9 times [1]. Group 2: Factors Driving RMB Internationalization - The acceleration of RMB internationalization is attributed to three main forces: the foundational role of trade and industrial structure, the facilitative role of institutional and market tools, and the external window provided by changes in the global monetary system [2]. - China's stable position in the global supply chain and the expansion of foreign trade are driving the use of RMB for settlement, particularly in trade with Global South countries [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: Global Financial Landscape and RMB - The establishment of the RMB clearing bank in Turkey marks the official start of RMB clearing operations, which is expected to reduce trade risks and create new business opportunities for Turkish enterprises [3]. - The diversification of foreign exchange reserves among countries is making RMB assets an attractive option for international investors, facilitating the acceleration of RMB internationalization [3]. - The resilience and elasticity of the RMB exchange rate have improved, making RMB assets a preferred choice for international investors in their asset allocation strategies over the next decade [3].