With the growing wave of "de-dollarization" around the world,RMBInternationalization is also accelerating. Several countries are beginning to recognize the need for "de-dollarization" and are looking for alternatives to the dollar. Today, the latest statistics show thatRMBGloballyFinancingThe proportion of more than thatEurosto become the second largest in the worldCurrency。While the gap with the dollar still exists, this data suggests:RMBInternationallyCurrencyThe status in the system is constantly improving.
People choose to "de-dollarize" mainly because the US dollar is the main global settlementCurrencywithReserve currency, brought a considerable amount to the United StatesEconomyAdvantage. However, the United States abuses this dominant position and sees other countries as objects of "harvesting". Whenever the United StatesEconomyWhen there is a crisis, it triggers a "dollar rush" that exploits the high-quality assets of other countries and passes on their own crises to other countries. This practice has led other countries to question the credibility and safety of the dollar, and then choose **U.S. TreasuriesOverweightand other "de-dollarization" measures.
In this context, not only China continues to **U.S. Treasuries, trending towards "de-dollarization", many other countries have also adopted "de-dollarization" measures. According to statistics, more than 110 countries have adopted one or more forms of "de-dollarization" measures, and the trend is expanding globally. In addition, there has been a widespread large-scale purchase by central banks around the worldIn the first half of this year, the amount of gold purchased hit a record high. This simultaneous sell-offU.S. TreasurieswithOverweightIt also reflects the global trend towards "de-dollarization".
Recently, China sold $27.4 billion againU.S. Treasuriesto make it holdU.S. TreasuriesThe scale fell to $778.1 billion. This is the sixth consecutive month in China**U.S. Treasuries, enough to show that China has accelerated the pace of "de-dollarization". At the same time, global central banks are alsoOverweight, as an option for "de-dollarization".
According to statistics, in the first half of this year, global gold purchases hit a record high, which indicates a sell-offU.S. TreasurieswithOverweighttrends. As a safe-haven asset, the attributes have been fully exerted, and it has been well received by the state andInvestmentsof the favor. At the same time, in order to reduce dependence on the US dollar, more than 30 settlement systems have been established around the world that can bypass the US dollar. This provides more options for countries and businesses, making cross-border transactions more flexible and convenient.
AlthoughRMBExceededEurosBecome the second largest in the worldCurrency, but replacing the dollar is not an easy task, nor is it a realistic goal. As in history and othersCurrencyAcquired worldwideCurrencyThe core position is the sameRMBThe road to internationalization is a long way to go, and it will take time and continuous efforts.
RMBThe internationalization is a long-term trend that requires China to be inFinanceWe have made positive explorations and efforts in market reform, capital account opening, and exchange rate marketization. At the same time, there is a need to strengthen internationalCurrencyCollaborate, promoteRMBInternational use and recognition. This requires China to work hand in hand with other countries to promote the international communityCurrencyReform of the system to promote a pluralistic internationalCurrencyThe establishment of order.
As the wave of "de-dollarization" continues to grow around the world,RMBInternationallyCurrencyThe status of the system has been continuously improved, and it has become the second largest in the worldCurrency。China Continuous**U.S. TreasuriesOverweightand other measures are also steadily advancing. However, it is not easy to replace the dollarRMBThere is a long way to go in internationalization. We need to intensify reform and push forwardFinancemarket reform, capital account opening, exchange rate marketization and other measures, while strengthening the internationalCurrencyCooperate to promote a diversified internationalCurrencyThe establishment of order. Only by continuing to work hard can we makeRMBPlay a greater role in the international arena for ChinaEconomyDevelopment and GlobalEconomyBalance and stability of order will make a greater contribution.