The internationalization of RMB has been steadily and cautiously promoted.

 

The function of RMB payment currency has been steadily improved, the function of investment and financing currency has been further deepened, the function of reserve currency has been rising, and the function of pricing currency has been gradually enhanced... The People's Bank of China recently released the Report on RMB Internationalization in 2022, which shows that the indicators of RMB internationalization are generally good. Since 2021, the People's Bank of China has steadily and prudently promoted the internationalization of RMB based on the independent choice of market driven enterprises, providing strong support for the smooth operation of the real economy..

 

Experts and scholars believe that a series of achievements of RMB internationalization are inseparable from China's high-quality economic development. In the future, RMB internationalization will continue to promote RMB to play a more important role in serving the real economy and the international arena..

 

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RMB is becoming more and more popular Since 2021, the amount of cross-border receipts and payments of RMB has continued to grow on the basis of the high base of the previous year. The Report shows that in 2021, the total amount of cross-border receipts and payments of RMB by bank agents will be 36.6 trillion yuan, a year-on-year increase of 29.0%, and the amount of receipts and payments will hit a new record. The overall balance of RMB cross-border revenue and expenditure was achieved, with a cumulative net inflow of 404.47 billion yuan throughout the year. According to the data of SWIFT, the share of international payment of RMB increased to 2.7% in December 2021, overtaking the Japanese yen as the fourth payment currency in the world, and further increased to 3.2% in January 2022, a record high.