Recently, the international financial transaction institution SWIFT released the latest data, and it is exciting that China's payment proportion has risen to 306%, ranking fifth.
This is not surprising, in fact, it is just a confirmation of what has already happened. Several examples have proven that the renminbi's position in the international arena is constantly strengthening.
First of all, China successfully completed the first import LNG transaction settled in RMB, which marks the recognition and adoption of the status of RMB in international settlement.
Subsequently, the renminbi overtook the euro to become Brazil's second largest currency, demonstrating not only the dominance of the renminbi in emerging markets, but also the further internationalization of the renminbi.
For the first time, Argentina used the renminbi to repay its foreign debts, which provided strong support for the renminbi's function as an international reserve currency and payment currency.
These practical cases show that the internationalization of the renminbi is accelerating. As the world's second largest economy, the rise of China's economy and the increase of its international influence have provided favorable conditions for the internationalization of the RMB.
In addition, China's active promotion of the Belt and Road Initiative also provides a broader space for the use and circulation of the renminbi.
Stimulated by a lot of good news, the offshore exchange rate of the renminbi hit a stage low of 7After 3494, it ushered in a wave of obvious **, rising to 7 at the highest2688, with a maximum increase of 806 points.
At the same time, the latest data released by SWIFT shows that the US dollar accounts for 46 of global payments**46%, almost half of the share, a record high.
However, this data has made the United States quite helpless.
The reason is that after Russia was kicked out of the SWIFT system, its ** has long ceased to use the US dollar, and its influence has also led to more and more countries to reduce the use of US dollars, resulting in a significant reduction in the global payment base of SWIFT statistics.
SWIFT is one of the most important payment transaction networks in the international financial sector, and is widely used for global cross-border payments and fund clearing. Its published data has been seen as an important indicator of global payment trends.
The data shows that since Russia was excluded from the SWIFT system, Russia's ** activity has gradually shifted to other alternative payment methods, getting rid of dependence on the US dollar.
This change not only affected Russia itself, but also had a ripple effect on a global scale. More and more countries are reducing their use of the U.S. dollar and looking for other payment currencies to reduce their dependence on the U.S. economy and financial system.
Behind this trend is the change in the global economic pattern and the acceleration of the internationalization process. More and more countries are aware of the risks of a single currency and are pushing for a diversified payment system.
On the one hand, this helps to reduce the impact of payment risks and foreign exchange fluctuations, while also promoting international development and global economic stability.
Russia's successful experience has an important global lesson: the non-use of the dollar does not mean ** and economic stagnation. On the contrary, it provides an option for other countries to make the global economy more diversified and robust.
For the dollar, this data is quite ironic. Although the global use of the US dollar is decreasing, the data provided by the SWIFT system shows that the share of US dollar payments is increasing.
On the contrary, this shows that the settlement system led by the United States is slowly being abandoned by other countries.
Today, the United States deeply regrets that it turned out to be a wrong decision to kick countries such as Russia and Iran out of SWIFT.