Core Viewpoint - The eighth Hongqiao International Economic Forum emphasizes the role of finance in promoting global economic and trade development, with China Bank as a key player in facilitating international trade and investment through innovative cross-border financial services [1][2]. Group 1: Cross-Border Financial Services - China Bank is focusing on innovating cross-border financial services to meet the new demands arising from the restructuring of global supply chains [1]. - The bank is integrating logistics, information flow, and capital flow to provide one-stop financial services, including cross-border settlement, financing, and risk control [1]. - Recent initiatives include the promotion of digital applications in shipping trade and the launch of the "China Bank Cross-Border e-Commerce" platform to enhance the stability of global supply chains [1]. Group 2: Promotion of Renminbi Internationalization - The deepening economic relations between China and other countries create a timely opportunity for promoting the international use of the Renminbi [2]. - China Bank aims to enhance the offshore Renminbi financial product system to meet the needs of overseas entities for trade investment and risk hedging [2]. - The bank plans to expand Renminbi pricing and settlement in sectors such as energy, bulk commodities, and cross-border e-commerce, while actively participating in the promotion of cross-border payment systems [2]. Group 3: Global Financial Connectivity - The role of multinational financial institutions is increasingly important in facilitating investment and multilateral economic exchanges [2]. - China Bank intends to leverage its global network to build platforms for international enterprises to invest in China and share development opportunities [2]. - The bank is committed to enhancing partnerships with financial peers and industry associations worldwide to promote financial connectivity and information sharing [2].

Core Insights - As of September 2025, the RMB has risen to the fifth position in the global payment currency ranking, accounting for 3.17% of total payments, with a 15.53% increase in payment amounts compared to August 2025 [1] - The SWIFT statistics on RMB payments only include offshore payment messages and some cross-border payment messages, indicating that a significant amount of RMB cross-border transactions are not captured by SWIFT [1] - The People's Bank of China (PBOC) considers a broader scope of data, including the Cross-Border Interbank Payment System (CIPS) and domestic bank systems, leading to a more accurate representation of the RMB's status as the third-largest global payment currency [1] Group 1 - The RMB's global payment currency ranking has improved, now at fifth place with a 3.17% share [1] - The increase in RMB payment amounts is significantly higher than the overall increase in all currencies, which is 6.74% [1] - The PBOC's comprehensive assessment includes additional data sources, reinforcing the RMB's position as the third-largest payment currency globally [1]

Core Viewpoint - The latest SWIFT data indicates that by September 2025, the renminbi (RMB) will rise to the fifth position in global payment currencies, accounting for 3.17% of the total, with a 15.53% increase in payment amounts compared to August 2025, while total payment amounts across all currencies increased by 6.74% [1]. Group 1 - SWIFT's statistics on RMB payments only include offshore payment messages and some cross-border payment messages, meaning a significant amount of RMB cross-border receipts are not included in SWIFT's statistics [1]. - The People's Bank of China (PBOC) considers data from the Cross-Border Interbank Payment System (CIPS) and commercial bank internal systems, providing a more comprehensive view of RMB's international payment status [1]. - The ranking of RMB as the third-largest global payment currency is based on a full-caliber statistical approach, reflecting its true position in international payments [1]. Group 2 - In June 2025, the Governor of the People's Bank of China, Pan Gongsheng, stated that based on full-caliber calculations, the RMB has become the third-largest payment currency globally [1].

Core Insights - The latest SWIFT data indicates that by September 2025, the Chinese yuan will rise to the fifth position in global payment currencies, accounting for 3.17% of the total [1] - The yuan's payment amount increased by 15.53% compared to August 2025, while the overall payment amount for all currencies rose by 6.74% [1] - The SWIFT statistics only include offshore payment messages and some cross-border payment messages, meaning a significant amount of yuan cross-border transactions are not captured [1] Group 1 - The ranking of the yuan as the third largest global payment currency is based on a comprehensive assessment that includes data from the Cross-Border Interbank Payment System (CIPS) and domestic bank systems, providing a more accurate reflection of the yuan's international payment status [1] - The People's Bank of China (PBOC) has stated that, when considering all data, the yuan has already become the third largest payment currency globally as of June 2025 [1]

Core Insights - As of September 2025, the RMB has risen to the fifth position in global payment currencies, accounting for 3.17% of the total, with a 15.53% increase in payment amounts compared to August 2025, while total payment amounts for all currencies increased by 6.74% [1] Group 1 - SWIFT's statistics on RMB payments only include offshore payment messages and some cross-border payment messages, indicating that a significant amount of RMB cross-border transactions are not captured in SWIFT's data [1] - The People's Bank of China (PBOC) considers data from the Cross-Border Interbank Payment System (CIPS) and commercial bank internal systems for a more comprehensive assessment of cross-border payments, which aligns better with the definition of international currency usage [1] - Based on a full-caliber assessment, the RMB has been recognized as the third-largest payment currency globally, reflecting its true status in international payments [1]