关于 全球金融治理的若干思考 ——中国人民银行行长潘功胜在 2025 陆家嘴论坛上的主题演讲 来源： 中国人民银行 尊敬的 吉宁 书记、中国人民银行原行长小川先生、龚 正 市长，尊敬的王江、云泽、吴清、 海峰、 鹤新同志，尊敬的各位来宾： 大家好！ 非常感谢上海市 委、市政府 特别是陈书记、龚市长对 金融 事业 和 人民银行的关心和支 持，非常荣幸担任本届论坛的共同轮值主席。经过多年努力，陆家嘴论坛已经成为具有 很强 国际 影响力 和市场传播力 的交流平台。 我代表人民银行，也代表主办方，向大家表示热烈 的欢迎和衷心的感谢！ 在去年 的 陆家嘴论坛上，我 报告了 中国 的 货币政策立场和 未来 货币政策框架 的 演 进。一年来，人民银行坚持支持性的货币政策立场，从数量、价格、结构等方面， 出台了多 项 货币政策措施，有效支持 了 经济 持续 回升向好 和金融市场的稳定 。同时， 我们 完善 货币政策框架，优化 货币政策中间变量 ， 培育 政策利率， 提升货币 政策 传导效率 ，丰富 货币 政策工具箱，做好政策沟通和预期引导。货币政策框架 的 转型是一个渐进、持续的过 程，未来我们还将不断 地 做好评估和完善。 ...

Group 1: International Monetary System - The discussion on reforming the international monetary system has two main directions: reducing reliance on a single sovereign currency and promoting a few strong sovereign currencies to create healthy competition [2] - The second direction involves the potential for a supranational currency, such as the IMF's Special Drawing Rights (SDR), to become the international dominant currency, though it faces political consensus challenges and limited market depth [3] Group 2: Cross-Border Payment System - There is a growing demand for improvements in the cross-border payment system, with emerging payment infrastructures and settlement methods driving it towards greater efficiency, security, inclusiveness, and diversity [4] - The cross-border payment system is diversifying, with more countries using local currencies for settlement, and new payment systems emerging alongside traditional models [4] - The interoperability of payment systems is improving, with countries extending operational hours and adopting international messaging standards to enhance efficiency and reduce costs [5] Group 3: Global Financial Stability System - The global financial stability system faces new challenges, including fragmented regulatory frameworks and insufficient oversight in emerging digital finance sectors [6] - A strong IMF is essential for building a diverse and efficient global financial safety net, maintaining consistency and authority in global financial regulatory rules [6] Group 4: Governance of International Financial Organizations - The IMF plays a central role in global economic governance, with its quota system determining crisis response capabilities and member voting rights [7] - Current IMF quotas do not reflect the relative positions of member countries in the global economy, and adjusting these quotas is crucial for enhancing the IMF's governance legitimacy and representation [8]

Core Insights - The People's Bank of China (PBOC) has emphasized the growing international status of the Renminbi, which has become the second-largest trade financing currency globally and the third-largest payment currency according to all-caliber calculations [1][8] - The PBOC is committed to a supportive monetary policy stance, implementing various measures to support economic recovery and financial market stability [1][6] - The international monetary system is evolving towards a scenario where a few sovereign currencies coexist, compete, and balance each other [1][8] International Monetary System - Historical shifts in the international monetary system reflect deep changes in global dynamics and national competitiveness, with the Renminbi's rise being notable since the 2008 financial crisis [7][8] - The discussion around the international monetary system is increasingly influenced by geopolitical factors, with a focus on reducing reliance on a single sovereign currency [8][9] - The potential for a super-sovereign currency, such as the IMF's Special Drawing Rights (SDR), is being explored as a means to enhance global liquidity and crisis response capabilities [9][10] Cross-Border Payment System - The cross-border payment system is diversifying, with more countries using local currencies for settlements, moving away from a single sovereign currency dominance [12] - New payment infrastructures and systems are emerging, enhancing the efficiency and security of cross-border transactions [12] - China has established a comprehensive cross-border payment clearing network for the Renminbi, facilitating international trade and investment [12] Global Financial Stability System - The global financial stability framework has been strengthened post-2008, with a focus on enhancing crisis response mechanisms and regulatory frameworks [13][14] - The international community is addressing challenges such as fragmented regulatory frameworks and the need for better oversight of non-bank financial intermediaries [16] - Strengthening the IMF's role as a core institution in global financial governance is crucial for maintaining stability and coherence in regulatory standards [18] Governance of International Financial Organizations - The governance structures of international financial organizations like the IMF and World Bank need reform to better reflect the economic realities of emerging markets and developing countries [17][18] - Enhancing the representation and voice of these countries in global financial governance is essential for promoting true multilateralism [17][19] - The IMF's quota system requires adjustment to align with the current global economic landscape, ensuring its legitimacy and effectiveness in crisis management [18]

每经编辑｜杜宇 据央视新闻，2025年陆家嘴论坛开幕式上，中国人民银行行长潘功胜宣布设立银行间市场交易报告库。高频汇集并系统分析银行间债券、货币、衍生品、黄 金、票据等各金融子市场交易数据，服务金融机构、宏观调控和金融市场监管。 图片来源：每日经济新闻、资料图 中国人民银行行长潘功胜宣布八项重磅金融开放举措。 一是设立银行间市场交易报告库。高频汇集并系统分析银行间债券、货币、衍生品、黄金、票据等各金融子市场交易数据，服务金融机构、宏观调控和金融 市场监管。 七是在上海"先行先试"结构性货币政策工具创新。包括开展航贸区块链信用证再融资业务、"跨境贸易再融资"业务、碳减排支持工具扩容等试点。积极推动 上海首批运用科技创新债券风险分担工具，支持私募股权机构发行科创债券。 八是会同证监会研究推进人民币外汇期货交易。推动完善外汇市场产品序列，便利金融机构和外贸企业更好管理汇率风险。 据央视新闻，潘功胜表示，在去年的陆家嘴论坛上，介绍了中国的货币政策立场和未来货币政策框架的演进。一年来，中国人民银行坚持支持性的货币政策 立场，从数量、价格、结构等方面，出台了多项货币政策措施，有效支持了经济持续回升向好和金融市场的稳定。同 ...

中国人民银行行长潘功胜今日在2025陆家嘴论坛上表示，近年来，传统跨境支付体系面临的问题逐渐凸 显。全球希望改善跨境支付体系的呼声不断高涨，新兴支付基础设施和结算方式不断涌现，推动全球跨 境支付体系朝着更加高效、安全、包容、多元的方向发展。这一趋势未来会持续增强。经过十余年的建 设与发展，中国已初步建成多渠道、广覆盖的人民币跨境支付清算网络。(金融一线) ...

Group 1 - The second meeting of the China-Europe Financial Working Group was held in Brussels, Belgium, on May 13-14, focusing on global economic uncertainties and macroeconomic conditions [1] - Discussions included financial stability, banking and insurance regulation, and the development of pension funds and leasing companies [1] - Constructive discussions were held on emerging areas such as sustainable finance, cross-border data flow, and the construction of cross-border payment systems [1] Group 2 - A roundtable meeting for China-Europe financial institutions took place concurrently, where financial institutions provided professional advice on digital transformation and fintech innovation [1] - There was extensive communication regarding specific requests to optimize market access and promote business innovation [1] - All parties agreed to establish a regular communication mechanism to jointly promote deeper and broader financial cooperation between China and Europe [1]

多地已有落地案例 4月21日，中国人民银行、金融监管总局、国家外汇局、上海市人民政府联合印发《上海国际金融中心 进一步提升跨境金融服务便利化行动方案》（以下简称《行动方案》），支持在沪数字人民币运营试点 银行积极参与多边央行数字货币桥项目。 中国银行研究院研究员杜阳对《证券日报》记者表示："这是我国推动数字人民币国际化、深化跨境支 付体系合作的重要信号。《行动方案》的出台，意味着上海将在多边央行数字货币桥发展中扮演先行先 试的'试验田'角色，不仅提升中国金融基础设施在全球金融体系中的话语权，也为数字人民币在跨境支 付中拓展实际应用场景奠定了基础。" 提升跨境结算效率 《行动方案》从提高跨境结算效率、优化汇率避险服务、强化融资服务、加强保险保障、完善综合金融 服务等五方面提出18条重点举措。 《行动方案》提出，"支持在沪数字人民币运营试点银行积极参与多边央行数字货币桥项目，探索创新 特色场景。支持外汇交易中心为多边央行数字货币桥提供外汇流动性管理及兑换服务"。 "这有助于解决多币种转换的技术瓶颈，提升跨境结算效率。"苏商银行特约研究员薛洪言对《证券日 报》记者表示。 所谓多边央行数字货币桥（mBridge）是由 ...