RMBThe share of international payments is steadily increasing, according to the latest data from SWIFT, in November this yearRMBThe share in international payments has increased from 3 in October6% to 46%, a record high. This share is also exceededJapanese Yen, letRMBRanked 4th largest in international paymentsCurrencyof the ranking.
Over the past year,RMBThe process of internationalization is developing rapidly. In November last year,RMBThe share of global payments is only 237%, which is now up to 46%, almost doubled. This indicatesRMBThe international status is gradually improving, internationalFinanceThe market is rightRMBRecognition is growing.
In addition,RMBGloballyFinancingAn important breakthrough has also been made in the proportion of . The data shows thatRMBThe market share in the global cross-border** rose to 57%, exceededEurosof 561%, ranking second in the world. This data also reflects:RMBGloballyEconomyThe status of the country is constantly improving.
However,RMBThere is still a long way to go on the road to internationalization. AlthoughRMBhas been surpassedJapanese Yen, ascended to the 4th largestCurrencyposition, but in the case with the dollarEurosand other large quantitiesCurrencyIn contrast,RMBThere is still a huge gap in the share of international payments. According to the data, in November this year, the proportion of the US dollar in the international payment market reached 4708%, whileEurosThe proportion is 2295%，RMBOccupies only 461% share.
In addition to the progress in global payments,RMBGloballyFinancingThe status of the company has also improved. According to SWIFT,RMBGloballyFinancingThe proportion of more than thatEuros, in second place. Although the US dollar still occupies an absolute dominance, butRMBThe position is also gradually consolidating.
It should be noted that the above data is based on SWIFT statistics. In addition to the SWIFT system, China has also developed its ownRMBCross-border payment system CIPS. Therefore,RMBThe international payment data is actually underestimated, and there are a lot of themRMBCross-border settlements are not counted in the SWIFT system. According to CIPS data,:RMBofInternational settlementThe scale is larger, and a total of 334 payment transactions have been processed20,000 transactions, the amount reached 796 trillion yuanRMB, about $12 trillion. Therefore, if this part of the data is also taken into account,RMBThe scale of international payments will increase further.
AlthoughRMBPayments in international andFinancingSome progress has been made, thoughRMBThere is still a long way to go on the road to internationalization. To make oneCurrencyInternationally recognizedCriticalHow many countries are willing to use thisCurrencypayment, and how many countries are willing to accept itCurrency。In terms of the current share of international payments,RMBAlthough it is exceededJapanese Yen, rising to 4th place, but with the dollar,EurosetcCurrencyThere is still a big gap in comparison.
In addition,RMBThere is another important challenge to internationalization, which is its recognition as a measure of value. CommoditiesThe pricing measurement is largely in the U.S. dollar orEuroscarried out, whileRMBInCommoditiesThere is almost zero pricing power, which is also limitedRMBFurther internationalization.
However, despite the many challenges,RMBThere are still huge opportunities for internationalization. As the global antipathy to the hegemony of the dollar grew, people began to look for alternativesRMBAs the second largest in the worldEconomyBodyCurrency, with great potential. At the same time, China continues to pushFinanceOpening-up and reform are constantly improvingRMBinternational status, acceleratedRMBThe pace of internationalization. Foreseeably, in the futureRMBInternationallyCurrencyThe position of the market will steadily improve, bringing more opportunities and challenges.
RMBThe share of global payments continues to increase and has been exceededJapanese YenRanked 4th largest in international paymentsCurrencylocation. At the same time, on a global scaleFinancingMedium,RMBExceededEuros, in second place. These developments show:RMBThe process of internationalization is acceleratingFinanceThe market is rightRMBThe recognition continues to grow.
StillRMBInternationalization remains challenging. with the US dollarEurosetcCurrencycomparatively,RMBThere is still a large gap in the share of international payments. In addition,RMBInCommoditiesThere is almost zero pricing power, which is also limitedRMBThe process of internationalization.
However, with the increase in global antipathy to the hegemony of the dollar and ChinaFinanceThe advancement of reforms,RMBThere are still huge opportunities for internationalization. RMBThe status will continue to improve, bringing more opportunities and challenges. AlthoughRMBThere is a long way to go on the road to internationalization, but as long as we continue to work hard, we canRMBThe position in the international arena will steadily increase.