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人民币外汇期货进展如何?央行行长潘功胜向21记者挥了挥手
外汇衍生品市场的成熟程度对人民币国际化进程具有重要影响。6月18日,在2025年陆家嘴论坛上,中 国人民银行行长潘功胜公布八项重要金融政策,其中明确提出将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。 9月22日,国新办举行"高质量完成'十四五'规划"系列主题新闻发布会,中国人民银行行长潘功胜,金 融监管总局局长李云泽,中国证监会主席吴清,中国人民银行副行长、国家外汇局局长朱鹤新介绍"十 四五"时期金融业发展成就,并答记者问。 记者从发布会现场获悉,近年来,外汇市场交易理性有序,稳健性增强。人民币汇率双向浮动、弹性增 强,发挥了宏观经济和国际收支自动稳定器的功能。企业外汇套期保值的比率已经由2020年的17%上升 到30%左右,人民币在跨境贸易中的占比由16%上升到近30%,外汇市场韧性进一步增强。同时,外汇 市场宏观审慎管理体系逐步健全,逆周期调节工具箱更加丰富。近年来面对高波动的国际市场环境,我 国跨境资金流动总体均衡,人民币汇率在主要货币中的表现比较稳健。 发布会结束后,记者向央行行长潘功胜追问了人民币外汇期货的最新进展。听到问题后,潘功胜对记 ...
俄罗斯计划在中国发行人民币债券,你会选择购买吗?
Sou Hu Cai Jing· 2025-09-22 11:12
俄乌战争打了三年半,俄罗斯人力、物力和财力消耗巨大,打仗是最花钱的,并且俄罗斯经济还被西方世界给制裁封锁了,没办法,普京只能把目光转向东 方。最近,普京已经连开两次紧急经济会议,直接原因都是因为俄罗斯经济"急剧放缓"。两天前的会议内容透露出,普京已经不再提"软着陆",而是暗示灾 难性困境。据西方媒体报导,俄罗斯政府已经将今年GDP预测从2.5%下调到1.2%,其中军事开支是冷战结束以来最高,占GDP的7.2%。 俄罗斯计划在中国发行人民币债券,俗称"熊猫债",是近期金融和地缘政治领域的一个重要动向。 从公开资料看,这次发债主体既有是俄罗斯财政部,也有俄天然气工业公司、俄国家原子能公司、欧亚开发银行等大型国企和机构,主权债券和大型企业债 同期推进,显示了俄罗斯迫切的融资需求。中证鹏元、大公国际等中国评级机构给予了上述俄机构AAA级最高信用评级,意味着俄企发行熊猫债已无障 碍。 为什么俄罗斯选择此时发行债券?答案只有一个,俄罗斯没钱了,真的没钱了。前些天俄罗斯杜马的高级财政官员就说:我们政府真的没钱了,俄罗斯可能 会再次解体。上次苏联解体不是因为叶利钦和戈尔巴乔夫,而是因为政府没钱了。 俄罗斯为何要来中国发债?大 ...
中国一次抛售257亿美债,关键时刻美国议员现身中国,想要稳定中美关系?
Sou Hu Cai Jing· 2025-09-22 10:20
从数据上来看,中国的美债持仓从2013年的1.32万亿美元一路减至如今的7300亿美元,几乎削去了一半。这一过程并不是简单的"减持",而是 一场涉及国家利益的战略性撤退。换句话说,中国正在进行一场无声的金融战争,试图减少对美元的依赖,分散投资风险。而在这背后,是中 国推行更为多元化的外汇储备布局的坚定决心。 与此同时,中美关系的紧张态势也给中国的经济发展带来了前所未有的压力。美国政坛上的较量,尤其是特朗普政府时期的贸易战,使得双方 在经济上的摩擦愈演愈烈。如今,随着美国总统选举的临近,特朗普在面对国内经济困境时,意识到必须稳定与中国的关系,以免影响选票。 在这一点上,美国国会议员的罕见访华便显得尤为重要。他们试图通过此举来修复与中国的关系,寻求更多的合作机会,藉此缓解美国日益增 长的经济压力。 在当前复杂多变的国际局势下,中美两国之间的经济关系再度成为各方关注的焦点。最近,中国不仅抛售了257亿美元的美国国债,其持有规 模降至7307亿美元,创下自2009年以来的新低。同时,美国国会议员组团访华,这一幕的背后,不仅是政治权谋的博弈,更是深厚的经济利益 考量。让我们一同深入分析这一切背后的真相与影响。 首先,我 ...
潘功胜:人民币国际地位的稳步提升,是国际货币体系变革的一个重要特征
Sou Hu Cai Jing· 2025-09-22 09:51
Group 1 - The People's Bank of China is committed to deepening financial openness and cooperation to enhance financial security and support high-quality development in line with China's modernization goals [1] - Financial sector institutional openness is steadily advancing, with significant improvements in market connectivity and mechanisms like Shanghai-Hong Kong Stock Connect and Bond Connect, facilitating foreign investment in China's financial markets [1] - As of the end of July, foreign institutions and individuals held over 10 trillion yuan in China's domestic stocks, bonds, and deposits, with stock holdings exceeding 3 trillion yuan and bond holdings over 4 trillion yuan [1] Group 2 - The international status of the renminbi is steadily rising, with the establishment of bilateral currency swap agreements with 32 countries and regions, enhancing the offshore renminbi market [2] - The renminbi has become the largest currency for China's external payments, the third-largest trade financing currency globally, and ranks third in the IMF's Special Drawing Rights basket [2] - The construction of international financial centers is progressing, with Shanghai being supported as a global hub for renminbi asset allocation and risk management [2] Group 3 - The business environment is becoming more friendly and inclusive, with significant improvements in cross-border trade and investment facilitation, and the establishment of a diversified cross-border payment system [3] - The financial risk prevention capabilities under the open financial framework are being enhanced, with a focus on monitoring and assessing cross-border financial risks [3]
潘功胜、李云泽、吴清、朱鹤新发声,信息量很大→
Zheng Quan Shi Bao· 2025-09-22 09:06
作者:孙璐璐 贺觉渊 程丹 秦燕玲 国务院新闻办公室于今日下午3时,举行"高质量完成'十四五'规划"系列主题新闻发布会,中国人民银 行行长潘功胜,金融监管总局局长李云泽,中国证监会主席吴清,中国人民银行副行长、国家外汇局局 长朱鹤新介绍"十四五"时期金融业发展成就,并答记者问。 潘功胜 潘功胜:中国特色现代货币政策框架逐步形成 潘功胜在国新办新闻发布会上表示,"十四五"以来,我国金融服务实体经济质效大幅提升,坚持支持性 的货币政策立场,中国特色的现代货币政策框架逐步形成,政策传导更为有效。 潘功胜:"十四五"时期科技型中小企业贷款、普惠小微贷款、绿色贷款年均增速超过20% 潘功胜表示,"十四五"时期,科技型中小企业贷款、普惠小微、绿色贷款年均增速超过20%。特别是 2024年9月中央政治局会议以来,中国人民银行按照中央部署,出台了一系列货币金融政策举措,有效 稳定市场预期、提振信心,推动经济持续回升向好和高质量发展。 潘功胜:目前我国金融体系总体稳健 潘功胜:我国在国际金融治理合作中的参与度、影响力、话语权显著提高 9月22日,在介绍"十四五"时期金融业发展成就时,中国人民银行行长潘功胜在国新办新闻发布会上表 ...
中国银行泰安分行:参加泰安精准采购贸易对接会 宣讲跨境人民币政策
Qi Lu Wan Bao Wang· 2025-09-22 09:04
9月15日,2025"万企出海 鲁贸全球"泰安精准采购贸易对接会在泰安成功举办。中国银行泰安分行受邀 参加,为100余家参展企业提供金融支持,为企业出海保驾护航。 贸易对接环节,现场气氛热烈。中国银行泰安分行通过悬挂横幅、展示跨境人民币易拉宝、发放《跨境 人民币业务宣传手册》等方式,多方位向与会企业宣讲跨境人民币政策,引导企业树立"本币结算成本 更低、更便利"理念。 在宣传过程中,我行主动为企业在跨境结算中遇到的疑惑进行解答。某企业较为关心入账效率及优质企 业跨境人民币结算便利化相关情况,泰安中行工作人员现场就认定标准、便利化措施等给与了详细的讲 解,高效、专业且细致的回复,获得了企业与采购商的充分肯定。 本次宣传活动触达人次达百余人,现场答疑解惑,为企业出海提供跨境人民币政策支持。下一步,中国 银行泰安分行将在中国人民银行泰安市分行的指导帮助下,积极响应政府号召,依托会议活动,推动各 项跨境人民币政策的落实与细化,实现政策宣传的最大覆盖面和最佳效果,助力人民币国际化进程,为 泰安市涉外经济高质量发展贡献更多中行力量。 ...
美国打响"降息内战",50年美元霸权恐崩塌!你的钱袋子还安全吗?
Sou Hu Cai Jing· 2025-09-22 07:43
这是真正影响全球80亿人生计的大事件! 美联储时隔9个月终于宣布降息,直降25个基点。此刻,全球资本巨头、华尔街大佬以及无数人的心跳,都因这一数字彻底改变。全球经济、你我手中的存 款、股票、未来的物价、油价,甚至未来世纪的趋势,都因美联储此次降息发生巨变。 这次美联储降息与以往大不相同——美国正因降息爆发近50年来最大规模的"天王山之战",特朗普对阵鲍威尔,美联储对阵最高领袖。 美联储的独立性正面临有史以来最强大的挑战——特朗普。延续50年霸权的美元货币体系,可能在特朗普的"励精图治"下被推向深渊。 这场降息究竟是好是坏?它会带来什么影响?房子能买了吗?股票会涨吗?手中纸币的购买力会大幅贬值吗?这场降息为何成为美国的"天王山之战"? 要回答这些问题,需从最基础的问题入手:被传得神乎其神的美联储究竟是什么? 美联储全称美国联邦储备系统,通俗来说就是美国版的央行,负责发行和管理美元、维护美国金融稳定。它是全球金融体系中为数不多带有半私有化特征的 巨型机构。 不少博主称"美联储被神秘大佬操控,是世界主宰",但这种说法很片面——经过上百年演化,美联储早已摆脱资本大佬的直接控制。 看美联储的架构便知:其银行实体由12家 ...
凝聚行业共识 激活开放动能——人民币债券担保品跨境应用倡议重磅发布
Xin Hua Cai Jing· 2025-09-22 07:11
新华财经北京9月22日电 (王菁)日前,在2025中债担保品国际论坛上,中央结算公司作为发起机构, 联合境内外金融基础设施、行业协会、商业银行等16家金融机构,共同发布了《人民币债券担保品跨境 应用倡议》(以下简称《倡议》),引发多方关注与热烈讨论。 近年来,中国金融高水平开放持续深化。伴随国际市场优质担保资产供给日趋紧张,以中国国债为代表 的优质人民币债券,凭借其发展潜力大、避险属性强、市场深度好等优势,正逐渐成为全球合格担保品 的重要选择。在中国人民银行等管理部门的指导下,中央结算公司携手16家合作伙伴共同推出该《倡 议》,提出"互惠互利、互信互认、互联互通、互学互鉴"四项原则,呼吁各方共同推动人民币债券跨境 使用,助力全球金融体系发展。 中国银行指出,《倡议》为人民币债券"走出去"指明了方向。作为全球布局的大型国有银行,中国银行 将依托广泛的跨境服务网络,在回购、衍生品保证金等领域探索人民币债券担保品的使用,推动其成为 国际市场上广泛接受的合格担保品。 与此同时,作为担保品管理业务的重要参与机构,汇丰银行、浦发银行和东方汇理银行也充分肯定了 《倡议》的实践价值。 汇丰银行认为,《倡议》的发布体现了中央结 ...
四大证券报精华摘要:9月22日
Xin Hua Cai Jing· 2025-09-22 00:31
Group 1 - The Chinese government has launched a comprehensive set of policies aimed at stabilizing growth, markets, and expectations, signaling strong financial support for high-quality economic development [1] - The A-share market has seen significant trading activity, with daily transaction volumes reaching over 3 trillion yuan and margin financing balances exceeding 2.4 trillion yuan [1] - Market participants anticipate further reforms and opening-up measures in the capital market to enhance its attractiveness and stability [1] Group 2 - Approximately 87% of ESG-themed funds have reported positive returns this year, with the highest return exceeding 65% [2] - In August, six new ESG-themed funds were launched, with one fund achieving a record issuance scale of 960 million yuan, marking the largest ever for a public ESG index fund in China [2] Group 3 - The embodied intelligence industry is experiencing rapid development in both hardware and software, with human-like robots expected to reshape industrial ecosystems over the next 5 to 10 years [3] - Domestic companies are accelerating their product layouts in embodied intelligence, addressing gaps in specific application scenarios [3] Group 4 - The A-share market has shown mixed performance, with the Shanghai Composite Index declining by 1.30% while the ChiNext Index rose by 2.34% [4] - Analysts predict that the market may continue to experience fluctuations in the short term but expect improved risk appetite after the National Day holiday [4] Group 5 - Following a 25 basis point rate cut by the Federal Reserve, many domestic and foreign institutions view the external environment for Chinese assets as increasingly favorable [5] - There is an expectation of further rate cuts by the Federal Reserve, which could enhance the attractiveness of non-U.S. markets, particularly China [5] Group 6 - The stock price of Sunflower surged nearly 30% in the seven trading days leading up to its suspension, raising questions about preemptive buying ahead of its acquisition announcements [6][7] Group 7 - The gaming industry in China is experiencing a resurgence, with significant growth in both product performance and stock prices, driven by continuous issuance of licenses and successful new game launches [8] Group 8 - The number of securities analysts in China has surpassed 6,000, marking a historical high, while the market faces challenges due to declining commission revenues [9] Group 9 - The Hong Kong government is optimizing regulations to facilitate the return of Chinese concept stocks, enhancing the attractiveness and liquidity of the Hong Kong market [10] Group 10 - Foreign institutions are increasingly confident in the Chinese market, with significant net inflows of cross-border capital and heightened research activities on A-share companies [11] Group 11 - Huawei announced that the number of HarmonyOS 5 devices has surpassed 17 million and launched the "Tian Gong Plan" to invest 1 billion yuan in supporting the Harmony AI ecosystem [12][13]
中金:“十五五”的潜在政策动态
中金点睛· 2025-09-21 23:54
Core Viewpoint - The "14th Five-Year Plan" marks a critical period for China's financial cycle and economic transformation, shifting from reliance on real estate and traditional infrastructure to a new economic development model focused on innovation, green development, coordination, openness, and sharing [2][4]. Economic Transformation - The economic development model is transitioning to rely more on new economies, with a notable decline in housing prices and a slowdown in credit growth, leading to increased downward pressure on economic growth [2][4]. - The "14th Five-Year Plan" has seen most major indicators completed ahead of schedule, including GDP growth and labor productivity [6][9]. Innovation and Technology - R&D investment has significantly increased, with total R&D expenditure reaching 3.6 trillion yuan in 2024, up 1.2 trillion yuan from the end of the "13th Five-Year Plan" [10]. - The complexity of China's economy has risen, with advancements in key technologies such as integrated circuits and artificial intelligence [12][21]. Green Development - China has made significant strides in green development, with forest coverage exceeding 25% and a notable reduction in PM2.5 levels [21][22]. - The energy structure is rapidly transforming, with non-fossil energy consumption expected to reach around 20% by 2025 [22]. Regional and Urban-Rural Coordination - The "14th Five-Year Plan" emphasizes balanced development between urban and rural areas, with significant improvements in agricultural infrastructure and rural self-development capabilities [27][28]. - Urbanization rates have increased, with the urbanization rate reaching 67% by 2024, ahead of the planned target [28][45]. High-Level Opening Up - China's exports showed resilience, with total exports reaching 3.58 trillion USD in 2024, an increase of nearly 1 trillion USD from the end of the "13th Five-Year Plan" [30][34]. - The negative list for foreign investment has been continuously reduced, with all restrictions in the manufacturing sector eliminated [38][40]. Shared Development - The "14th Five-Year Plan" prioritizes people's well-being, with a focus on reducing income and public service disparities [43][44]. - The average disposable income per capita increased from 32,200 yuan in 2020 to 41,300 yuan in 2024, reflecting a growth rate of approximately 5.8% [44][46].