The Spring Of RMB - The Renminbi Is Popular In Europe.

A report issued by the World Bank Financial Telecommunication Association points out that the payment value of European RMB customers is much higher than that of Asia in the same period.

Insiders say that the renminbi is popular in Europe, which is related to the large volume of trade between the two sides and the lower base last year.

The government and enterprises should make concerted efforts to seize the opportunity to rapidly increase the value of Renminbi payment, and gradually push forward RMB settlement in trade and relieve export pressure.

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After RMB P cross-border cross-border settlement in Southeast Asia, the value of RMB payment in Europe is also growing strongly.

The data released by the global bank Financial Telecommunication Association (SWIFT) and the frequent use of RMB in Europe since October have all proved this.

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"These changes indicate that as China's economy stabilizes, its currency rises and the pace of RMB internationalization accelerates, the influence of RMB is rising," said P, an analyst interviewed by the international business daily.

So, what are the opportunities for RMB cross-border settlement? How should we speed up the cross-border settlement of RMB? < /p >

< p > < strong > Europe widens the use of RMB < /strong > /p >

In the three quarter of P, the value of RMB payment in Europe increased by 163% over last year.

Recently, the report released by SWIFT disclosed this information.

The report points out that the payment value of European RMB customers is much higher than that of Asia's 109% in the same period.

"This shows that with the rising value of RMB and the accelerated pace of RMB internationalization, the influence of RMB is rising."

During the ninth Beijing Finance Fair, Wang Guogang, director of the Financial Research Institute of the Chinese Academy of Social Sciences, said in an interview with an international business daily reporter.

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< p > indeed, especially since this year, with the accelerated pace of RMB internationalization, the European market is getting better.

In October, the people's Bank of China and the European Central Bank signed a bilateral currency swap agreement of 350 billion yuan (RMB).

In addition, China will award 80 billion yuan qualified foreign investment institutional investor (RQFII) quota in London, so that investors in London can use Renminbi to invest in Chinese bonds, stocks and money markets.

This amount has exceeded 50 billion yuan in Singapore.

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Wen Bin, head of the macro economic research of the Bank of China and deputy editor in chief of the international financial research, Wen Bin told the international commercial newspaper that on the basis of the large volume of trade between China and Europe, many European financial centers, such as Luxemburg and London and Paris, are promoting the settlement and use of the RMB.

For example, the Renminbi denominated dim sum bond is now only the size of Luxemburg in Hongkong, and Luxemburg and other countries are also actively promoting the development of RMB clearing business. Luxemburg and London are competing to build offshore renminbi trading centers.

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< p > in addition, Wen Bin and Wang Guogang both said that the value of Renminbi payment in Europe has increased rapidly, which is also related to the low base last year.

This shows that in recent years, especially this year, the European market is more optimistic about the investment value and development trend of RMB.

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< p > < strong > < a > href= > //www.sjfzxm.com/news/index_cj.asp > RMB > /a > settlement decompression outlet < /strong > /p >

< p > the use of RMB settlement, the use of RMB investment and the renminbi as reserve currency are the three major ways to internationalize RMB.

Today, the RMB has begun to settle and invest in two major functions in Europe. The path of RMB internationalization has taken a great step in Europe.

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< p >, however, Wen Bin said that the internationalization of RMB should be based on the healthy development of China's economy.

"In the process of RMB internationalization, if China's economic development is hindered, then the development of financial level will also be affected."

Wen Bin said, fundamentally speaking, as China's economic pformation and upgrading and structural adjustment play a role, and domestic demand will drive the sustained economic development, the RMB appreciation will be greater, which will effectively promote the internationalization process of RMB.

"When the US dollar dominates the whole world, the use of RMB settlement will reduce the exchange rate risk of enterprises."

Wen Bin said.

At present, the United States, Japan and other countries have implemented quantitative easing policy to stimulate their economic recovery, and the renminbi is rising step by step under the promise of not depreciating.

Under the background of the current trade mostly using RMB settlement, Chinese export enterprises, which have already suffered the pressure of rising labor costs and rising land rent, are even worse.

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< p > experts suggest that the government and enterprises should make joint efforts to seize the opportunity of rapidly increasing the value of RMB payment, and gradually push forward RMB settlement in trade so as to reduce the pressure of China's exports while promoting the internationalization of RMB.

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< p > Wang Guogang said that the use of RMB settlement needs to consider the comprehensive factors, such as the prospect of economic development, bilateral trade volume and the habit and demand for RMB settlement. This is a natural process.

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< p > Wen Bin suggested from another angle that under the current circumstances, financial institutions should innovate models, improve the efficiency of RMB clearing and expand their scale, so as to facilitate the use of RMB settlement by enterprises.

In addition, Wen Bin said that through expanding domestic demand and increasing trade deficit, we could naturally export a lot of money, and also help the cross border use of RMB.

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