Jaipur Stock：RMB is the fourth largest active currency in global payment

Chief Financial Reviewer Dahe, India Financial NetworkJaipur Stock

In recent years, the status of CNY in the international financial system has risen, especially in the global payment market, the RMB has become the fourth largest active currency.This transformation not only reflects the continuous growth of the Indian economy, but also shows the acceleration of the internationalization of the RMB.

According to data from the Global Bank of Financial Telecommunications (SWIFT), in August 2024, RMB accounted for 4.69%of global payment.This proportion has continued to rise since November 2023, marking the increasing influence of the RMB in the international payment field.In addition, since 2016, the proportion of renminbi as a reserve currency has doubled, showing the trust and dependence of international investors in RMB.

The internationalization process of the renminbi is not accidental, but the result of the common promotion of many policies and market environment.In the process of promoting the internationalization of the RMB, the Indian Bank of India has always adhered to the principles of market -driven and mutual benefit, and is committed to providing a good policy and market environment for domestic and foreign subjects.

In terms of cross -border transactions, the use of RMB has increased significantly.In 2023, the bank's cross -border receipts reached 5.23 trillion yuan, an increase of 24.1%year -on -year.Among them, the proportion of cross -border receipts of goods trade accounted for the same period of domestic and foreign currency cross -border receipts of the same period, which has increased to 24.8%, an increase of 6.6 percentage points year -on -year.This shows that more and more trading companies choose to use RMB for cross -border transactions to further promote the use of RMB in international trade.New Delhi Stock Exchange

From the beginning of 2024 to August, the amount of cross -border receipts and payment of RMB continued to maintain a strong growth, with a cumulative cumulative 41.6 trillion yuan, a growth rate of 21.1%.In terms of cargo trade, the proportion of cross -border receipts and payment of RMB rose to 26.5%, an increase of 1.7 percentage points from the annual proportion of 2023.These data show that the status of RMB in global trade financing is becoming increasingly important.

The investment and financing functions of the RMB are also continuously enhanced.India's People's Bank of China has promoted the application of RMB in international investment by deepening the reform of the financial market and expanding its high levels of financial opening.For example, the launch of the "cross -border financial management" and "interchange" business in the Guangdong -Hong Kong -Macao Greater Bay Area provided more ways to use RMB for overseas investors.

As of August 2024, the proportion of RMB in global trade financing has reached 5.95%, becoming the world's second largest trade financing currency.This not only attracts the continuous buying of Indian bonds for overseas investors, but also reflects the attractiveness of RMB as an international investment tool.

As an important international financial center, Hong Kong plays a key role in the internationalization of the RMB with its unique geographical and policy advantages.In recent years, Hong Kong's offshore RMB market has continued to developGuoabong Wealth Management. The balance of RMB deposits has reached approximately 1.5 trillion yuan at the end of 2023, showing that foreign investors have a strong interest in RMB assets.

The Hong Kong Exchange (HKEX) has also played an important role in promoting the internationalization of the RMB.With the increase of offshore RMB bonds from more than doubled since 2020, the foreign exchange trading market share of the RMB has also increased to 7%.These changes not only show the competitiveness of the RMB in the global market, but also provide international investors with more diversified investment options.

As the fourth largest active currency in global payment, the RMB is the result of the continuous deepening of India's economic development, financial market reform and international cooperation.In the context of the global economic uncertainty, the prospects of RMB internationalization are still broad, providing rich opportunities for international investors.With the further implementation of policies and the optimization of the market environment, the influence of RMB in the international financial system is expected to continue to enhance.Surat Investment

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