Renminbi (RMB)/Yuan Appreciation & Internationalization

siegecrossbow

siegecrossbow

Field Marshall
Staff member
Super Moderator
Wrought said:
e-CNY continues to gain traction both domestically and internationally, with mBridge being a notable case of cross-border usage.

ActivityOctober 2022 (Under BIS leadership)November 2025 (Under China and partner central banks' leadership)
Total number of transactions160 transactions3.48 billion transactions
Total transaction volume$22 million$55.49 billion

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Real question is where can we buy it???
 
Wrought

Wrought

Captain
Registered Member
Interesting that Xi made the goal of RMB as reserve currency explicit, albeit in the long-term.

China needs to build a “strong currency” that can
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in international trade, investment and foreign exchange markets, and reach the status of a global reserve. The mission for
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was from excerpts of a speech by President Xi Jinping and published online on Saturday by Qiushi, the ruling Communist Party’s leading theoretical journal. Xi made the speech in 2024 to provincial and ministerial officials about building the country into a global financial powerhouse.

The excerpts published on the weekend outlined what Xi described as the core attributes of a financial powerhouse: a strong economic foundation, world-leading economic and technological strength, and a widely used and credible currency. He added that a financial powerhouse required a central bank that could implement effective monetary policy and macroprudential management, globally competitive financial institutions, and international financial centres that could attract international capital and exert influence over global pricing. These, he said, should be matched by sound regulation, a robust legal framework, as well as a stable pool of financial professionals. While China’s economy already ranked among the world’s biggest in terms of banking assets, foreign exchange reserves and capital market size, it remained “big but not strong” overall, Xi said, adding that building a financial powerhouse would be a long-term task.
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M

Michael90

Senior Member
Registered Member
GiantCanofWater said:
How is this possible when the Yuan is strictly controlled and China's still an export oriented economy?
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I think he’s just making a statement . There is no way China will open up her capital markets or allow her currency to be traded freely etc , things needed for a global reserve currency . I don’t see that happening in my lifetime .
However , that doesn’t means the Yuan can’t increase its usage globally as the country’s economy a trade grow more and more , so it will be adopted in some capacity but limited. There is no way it can a global reserve currency anytime soon .
 
Xiongmao

Xiongmao

Junior Member
Registered Member
Michael90 said:
I think he’s just making a statement . There is no way China will open up her capital markets or allow her currency to be traded freely etc , things needed for a global reserve currency . I don’t see that happening in my lifetime .
However , that doesn’t means the Yuan can’t increase its usage globally as the country’s economy a trade grow more and more , so it will be adopted in some capacity but limited. There is no way it can a global reserve currency anytime soon .
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Also having a global reserve currency is one of the corner stones of having a deeply financialized economy, a path China would do well to avoid.
 
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