Key Points - The 2025 Lujiazui Forum opened on June 18, with the People's Bank of China Governor Pan Gongsheng announcing eight significant financial opening measures [1] - Establishment of an interbank market trading report database to analyze trading data across various financial sub-markets [1] - Creation of a digital RMB international operation center to promote the internationalization of digital RMB and support financial market innovation [1] - Establishment of a personal credit agency to provide diversified credit products for financial institutions, enhancing the social credit system [1] - Launch of offshore trade finance service reform pilot in Shanghai's Lingang New Area to support offshore trade development [1] - Development of offshore bonds in free trade zones to broaden financing channels for enterprises involved in the Belt and Road Initiative [1] - Optimization of free trade account functions to enhance cross-border trade and investment facilitation [1] - Innovation in structural monetary policy tools in Shanghai, including blockchain credit refinancing and cross-border trade refinancing [2][3] - Discussion on the evolution of the international monetary system and the potential for a multi-polar currency landscape [4][5] - The SDR (Special Drawing Rights) is proposed as a potential international reserve currency, but faces challenges in political consensus and market depth [5] - The RMB has become the second-largest trade financing currency globally and ranks third in the IMF SDR currency basket [5] - China's banking system has met all standards for total loss-absorbing capacity, ensuring stability in the financial sector [6][9] - A comprehensive cross-border payment clearing network for RMB has been established, enhancing the efficiency and security of cross-border transactions [6] - The application of new technologies like blockchain in cross-border payments is reshaping traditional payment systems [6] - Regulatory oversight of non-bank intermediaries is highlighted as an area needing improvement due to rising leverage and opacity [7] - The need for unified standards in the application of artificial intelligence in finance is emphasized [8] - The People's Bank of China has signed bilateral currency swap agreements with over 30 countries, contributing to the global financial safety net [9]

5月17日~18日，2024清华五道口全球金融论坛在深圳举办，在"面向未来的全球货币体系"主题论坛上， 多位重磅嘉宾共同探讨全球货币体系转型的关键方向。 在面向未来的全球货币体系中，人民币将会扮演怎么样的角色？ "人民币国际化并非终极目标，而是辅助目标。我们不应为了国际化贸然取消资本管控或强制推进可兑 换。相关改革必须选择恰当的时机稳步推进。"清华大学五道口金融学院特聘教授施康在接受记者采访 时表示，从长远看，随着中国经济的持续发展，当条件成熟时，资本账户开放和货币自由兑换终将实 现。届时，凭借中国全球重要经济体的地位，人民币自然能在国际货币体系中占据应有位置。这一过程 应当是水到渠成的自然发展。 专家热议"去美元化"进程 "多元货币体系""去美元化"成了各界讨论的主题。 随着上月特朗普对等关税政策引发美国资产抛售潮，"多元货币体系""去美元化"成了各界讨论的主题。 正如马西米利亚诺·加斯塔利所言，美元还是全球的避风港资产，因为它的流动性最强，其他货币现在 还没有办法取代美元。现在大部分的资产还是投资于美国。 "我们不应把这种周期性、市场情绪性的变化当成是趋势性的变化。"施康对记者表示，近期美元资产遭 抛售仅 ...

当前美国国债作为全球最安全资产以及美元作为全球储备货币的地位正在被动摇，越来越多的国家开启 了去美元化进程。究竟如何面向未来的全球货币体系，5月17日，来自联合国的前政要、国际组织、金 融机构负责人知名经济学者等多位重磅嘉宾在2025清华五道口全球金融论坛上各抒己见。 美元信用正面临系统性削弱 在美国债务持续攀升、财政赤字压力不断积聚的背景下，美元的信用正面临系统性削弱。 瑞银资产管理全球战略主管马西米利亚诺·加斯塔利指出，目前美元还是全球的避风港资产，因为它的 流动性最强，但是在当前的地缘政治环境下，很多国家央行都在考虑他们对美元的资产配置未来是否会 发生变化，美元是否会丧失它的避风港地位。 到目前为止，受美元动荡和过去几年地缘政治不确定性的影响，现在黄金的地位越来越显著。公开数据 显示，很多央行，包括中国和其他新兴市场国家的央行，都在增加黄金储备，特朗普采取的单边主义做 法使得这个趋势变得更加明显。 在固定收益领域，全球央行和机构投资者在慢慢地调整资产配置，可能要逐渐降低美元持有量，这是一 个逐步下降的过程。因为现在类似中国这样的新兴经济体在全球金融体系当中的分量越来越重，尽管目 前暂时还没有其他货币可以 ...