Financing: Speed Up RMB Internationalization

At the Boao forum for Asia held last week, President Xi Jinping said that more than 60 countries and international organizations have expressed a positive attitude to participate in the construction of "one belt and one road".

The relevant leaders in the leading group of the "one belt and one way" construction group said that the construction of "one belt and one road" needs a lot of financing support, and economic and trade cooperation will also form a large amount of money circulation.

At the same time, it is also an important force for RMB going further to achieve internationalization.

In an interview with the daily economic news reporter, economist Song Qinghui said that with the gradual implementation of the strategy of "one belt and one road" and the deepening of China's foreign economic contacts, a wider range of cross border use of RMB will be derived, which will undoubtedly become a driving force for the internationalization of RMB.

During the Boao forum, the national development and Reform Commission, the Ministry of foreign affairs and the Ministry of Commerce jointly issued the "vision and action to promote the construction of the Silk Road Economic Belt and the maritime Silk Road in twenty-first Century" (hereinafter referred to as "vision and action").

The publication of vision and action not only marks China's "vision and action".

"The diplomatic strategy for the main melody will open a new chapter, and it also marks the formal reconstruction of China's national balance sheet with the opportunity of" one belt and one road ".

Experts and scholars pointed out that this year is expected to usher in the fourth wave of great changes in investment.

Guan Qingyou, executive director of Minsheng Securities Research Institute, believes that with the implementation of the strategy of "one belt and one road", the trend of investment downturn may be reversed. The fourth investment boom of China's economy may soon start.

"According to the public information, the scale of the" one belt and one road "proposed infrastructure in every area has reached 1 trillion and 40 billion yuan, and the scale of pnational investment is about 52 billion 400 million dollars. Considering that the general infrastructure construction cycle is generally 2~4 years, in 2015, the domestic" one belt and one way "investment amount was about 3000~4000 billion yuan.

Guan Qingyou said.

Therefore, financial intermediation is an important support for the construction of "one belt and one road".

The relevant leaders in the leading group of the "one belt and one way" construction group said that the construction of "one belt and one road" needs a lot of financing support, and economic and trade cooperation will also form a large amount of money circulation.

Song Qinghui said that with the gradual implementation of the strategy of "one belt and one road" and the deepening of China's foreign economic contacts, a wider range of cross border use of RMB will be derived, which will undoubtedly become an important driving force for the internationalization of RMB.

Along the "one belt and one road", the yuan has already been ahead of schedule.

In June 2012, the international trade settlement of RMB trading with Kazakhstan and Xinjiang was realized. In 2013, the Xinjiang branch of the State Development Bank issued RMB loans to enterprises of 350 million yuan; in August 2013, the Sino Kazakhstan Huoerguosi international border cooperation center became the first pilot area of offshore RMB innovation financial business in China.

In July last year, China and Brazil, Russia, India and South Africa jointly established the BRICs Development Bank. In October of the same year, they also initiated the launching of the Asian infrastructure investment bank, and the first 10 billion US Silk Road Fund officially announced.

It is not difficult to find that the acceptance level of RMB in the surrounding countries is continuously improving, and the internationalization of RMB has made a breakthrough in the region.

Although the proportion of RMB settlement in China's foreign trade is nearly 10%, this proportion is still relatively low.

The future is also expected to continue to expand, expand lending and investment in global financial markets, and then become an international reserve currency.