Home lifeDomestic services apparel Entertainment News Player community More

Is "RMB internationalization" equivalent to "de-dollarization"?

BEIJING,Nov. 15,2024 -- A news report byChina.org.cn on RMB internationalization:

 


Is "RMB internationalization" equivalent to "de-dollarization"?

The internationalization of the RMB is not equivalent to "de-dollarization",and the change in the two currencies' status in the international context is not co-relevant.

According to the rankings released by the Society for Worldwide Interbank Financial Telecommunication (SWIFT),the U.S. dollar remains the most popular currency in the world,with its payment share accounting for 47.08%,substantially more than other payment currencies.

In recent years,the RMB has become more internationalized. The change has something to do with the deepening economic and trade cooperation between China and ASEAN countries and the Belt and Road Initiative partner countries,which spurred the need for transactions,investment and financing using the RMB. What's more,global business entities' need to manage risks arising from the complicated international landscape which also facilitated the internationalization of the RMB. In 2023,cross-border RMB settlements reached 52.3 trillion yuan,a year-on-year increase of 24%. The increasingly internationalized RMB embodies China's vitality in high-level opening-up,while driving the balance of payments between China and the U.S. to a rebalance.

China Mosaic

http://chinamosaic.china.com.cn/index.htm

Is "RMB internationalization" equivalent to "de-dollarization"?

http://www.china.org.cn/video/2024-11/15/content_117548339.htm

Disclaimer: This article is reproduced from other media. The purpose of reprinting is to convey more information. It does not mean that this website agrees with its views and is responsible for its authenticity, and does not bear any legal responsibility. All resources on this site are collected on the Internet. The purpose of sharing is for everyone's learning and reference only. If there is copyright or intellectual property infringement, please leave us a message.

Newest

Subscription enthusiasm explodes! Digital Trade 2026 Shared Container Terminals Enter a Critical Window, Remaining Quotas Are Tightening Rapidly

The 5th Global Digital Trade Expo to Be Held in Hangzhou in 2026

Laser printer solution for PVC hoses: CYCJET LF30 achieves clear and durable markings.

MEXC Reports 7.1 Billion USDT in SpaceX Futures Volume as Q2 Closes the Gap to Wall Street

GAC Rolls Out Its 30-Millionth Vehicle, Thanking 30 Million Customers Worldwide for Their Trust

Cyannova Capital Participates in Qiyunshan Food’s HK IPO, Strengthening Presence in Hong Kong Capital

©copyright2009-2020New York Fashion News    Contact Us  SiteMap