Wu Xiaoling: The Era Of RMB Has Not Yet Arrived.

< p > in recent years, the use of RMB a href= "http://www.91se91.com/news/index_c.asp" > cross border settlement < /a > has been increasing continuously. Is the era of RMB coming? Wu Xiaoling, deputy director of the finance and Economic Committee of the National People's Congress of China, answered 22 in Beijing, "I don't think so."

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In January this year, the RMB has become the seventh largest payment currency in the world, and the market share of the global payment currency has reached 1.39%, which is more than the Swiss franc, according to the latest data of P SWIFT.

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< p > "although the number is very small, the prospect is great." Wu Xiaoling said that the current outflow of RMB cross-border settlement mainly includes foreign trade import and export payment, direct investment, project loans and appropriate scale securities investment. The reflux mainly includes foreign trade export, foreign direct investment, overseas institutions in the interbank bond market and domestic securities market.

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"P > a href=" http://www.91se91.com/news/index_c.asp "> RMB < /a > the number of cross-border settlement continues to increase. Does this mean that the era of RMB has arrived? < /p >

< p > > I don't think so. Wu Xiaoling thinks that the breadth and depth of RMB investment channels and the steady growth of China's economy will determine the process of RMB internationalization.

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< p > > a href= "http://www.91se91.com/news/index_c.asp" > Wu Xiaoling < /a > explains that money is to complete the settlement function, the real economy needs money and the money provides corresponding services.

Therefore, with the widening of the use channels of RMB and the increase of volume, the international status of RMB will be enhanced.

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< p > "how far the renminbi can go outside depends on how large the speed, breadth and depth of RMB can flow back to China". In Wu Xiaoling's view, the arrival of the RMB era depends on domestic financial reform.

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< p > Wu Xiaoling stressed that the central bank should consider more than turning the renminbi into an international currency, but how to adjust the domestic financial order, so that the main body of the domestic market will have stronger market constraints and provide better financial services and financial instruments for the market players, so that the renminbi can be used by the majority of domestic and foreign investors before it can become internationalized.

Therefore, internationalization of RMB is the result of China's reform and economic development.

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< p > "what is important is to do things well in China and other things to follow the trend", Wu Xiaoling said.

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