人民币国际化概念股票池及主题指数：人民币国际化：实现“金融自主可控”，无惧关税博弈升级

Core Insights - The report emphasizes the importance of RMB internationalization in achieving "financial autonomy and controllability," especially in the context of escalating tariff disputes globally. The establishment of the CIPS system and the mBridge project are highlighted as key initiatives to enhance the ability to respond to financial sanctions [1][2][18]. RMB Internationalization Theme Evaluation - The RMB internationalization theme received a composite score of 62.86 based on seven dimensions, with high scores in future imagination space, trading congestion, and policy support [3][20]. - The evaluation criteria included market capitalization capacity, policy support intensity, industry coverage, valuation levels, trading congestion, performance realization capability, and future imagination space [20][24]. RMB Internationalization Concept Stock Pool - A stock pool consisting of 18 stocks was constructed based on cross-border trade, payment, and logistics, reflecting potential beneficiaries of RMB internationalization [3][23]. - The stock pool's performance was backtested from March 29, 2024, to May 5, 2025, showing an excess return of 35.64% compared to the Wind All A Index, with a notable excess return of 12.44% after April 8, 2025 [3][29]. RMB Internationalization Index - The RMB internationalization index was created based on the concept stock pool, using free float market capitalization for weighting, with a maximum weight of 10% for any single stock [26]. - The index demonstrated a growth of 47% from March 29, 2024, to May 5, 2025, outperforming the Wind All A Index by 35.64% [29].