cross-border steps: the road to rmb internationalization

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huang qifan, former mayor of chongqing, delivered a keynote speech at the 6th bund financial summit. he emphasized the importance of rmb internationalization and pointed out its development direction and challenges. his speech was like an energetic departure, leading us on a journey of transnational steps.

combining internationalization with economic strength

the road to internationalization is not simply to expand the market scope, it is more like a performance of economic strength. as an important currency in global trade, the rmb is gradually gaining a foothold on the international stage and showing strong economic strength. its internationalization process not only reflects the vigorous development of the chinese economy, but also injects new vitality into the world economy.

judging from the economic status of currencies such as the euro, pound sterling and yen, the internationalization of the rmb still needs to take greater steps. as the world's second largest economy, china's economic strength is becoming increasingly clear on the international stage. however, at present, the internationalization of the rmb still lags behind these economic systems, which requires us to work hard to promote the internationalization of the rmb and enable it to play a more important role in the international market.

opportunities and challenges in the cross-border market

the opportunities and challenges of the cross-border market are also an important part of the internationalization process. the demand for cross-border trade is growing rapidly. therefore, the development of the offshore rmb market will become an important direction for international development. for example, hong kong, singapore and london have become important centers of the offshore rmb market, and their booming model provides us with new ideas.

free convertibility under the capital account: facilitating the internationalization of the rmb

free convertibility under the capital account is an important way to promote the internationalization of the rmb. it represents a higher level of economic openness and is also a key node in the internationalization process. as an economic system and policy measure, free convertibility under the capital account can effectively promote the internationalization of the rmb and inject new vitality into the further prosperity of china's economy.

future outlook: the internationalization of china's economy

the journey of internationalization is always full of challenges and opportunities, but we believe that the internationalization of the chinese economy will continue to move forward and leave a louder mark on the world stage. we hope that through continuous exploration and practice, we can eventually achieve the goal of rmb internationalization and provide strong guarantees for the sustainable development of the chinese economy.