Into the basket will soon face the challenges of internationalization of the RMB challenge – China N norton disk doctor

The "basket" RMB internationalization opportunities and challenges facing imminent new network – in October 1st, the RMB will be officially joined the International Monetary Fund (IMF) (SDR) the SDR currency basket, a crucial step in the process of internationalization of the rmb. Experts said that the international market will further enhance the confidence of the renminbi, to promote a broader range of RMB, and will have a profound impact on China’s financial structure. RMB after joining the SDR, we still need to self oriented, actively and steadily push forward the reform and opening up measures, and steadily to achieve stable development of economy and finance, at the same time in order to promote two-way open financial market, promote market-oriented reform of interest rate and exchange rate. Internationalization is not smooth according to the IMF’s decision, the yuan in the SDR basket after basket to a corresponding expansion of US dollar euro and RMB yuan, yen and pound. The weight of the yuan in the basket is 10.92%, the weight of the dollar, euro, yen and pound are respectively 41.73%, 30.93%, 8.33% and 8.09%. Experts believe that the yuan in SDR is expected to open a new market structure, but also has not been. Tu Yonghong, deputy director of the International Monetary Institute, Renmin University of China, pointed out that after joining SDR, the internationalization of the RMB faces several challenges, first, the trend of devaluation. A few years ago, many international investors holding renminbi is mainly driven by the expectation of RMB appreciation, if their future holdings, will form a certain pressure; the two is China now is in the period of economic transition; the three is with the recovery of American economy, the strong performance of the dollar. Lian Ping, chief economist at Bank of communications, said the RMB will enhance its international influence into the SDR. After becoming SDR fixed currency, the yuan will lead to more attention to the RMB market, countries will gradually hold the rmb. The amount of holdings depends on the actual use of the renminbi in Global trade, finance and investment transactions. After affirming the RMB into the SDR will help boost the global demand for the renminbi, but also to look at the objective, can not overestimate its role in the global increase in demand for the renminbi. Lecturer at Renmin University of China School of finance, Luo Yu believes that with the degree of internationalization of the RMB, Chinese banking external environment will change, internationalization will usher in a huge development space, promote its to accelerate the upgrading of overseas business scale and sources of income in the two dimensions of customer and product. With overseas business assets and revenues accounted for the rise, Chinese banks will face a more complex market environment and regulatory requirements, the risk exposure in terms of quantity and structure will be a big adjustment, need to constantly strengthen the risk control mechanism, prevention of various risk events that may have an impact. Supervision and reform of the central bank, said the RMB SDR basket means that the international community will be a higher standard and international monetary responsibility to look at China’s financial system reform and opening up. China’s accession to the SDR is not once and for all, China needs to continue to promote the process of reform and opening up, so that the RMB has become a veritable SDR currency. RMB’s entry into SDR on China’s currency front相关的主题文章: