The External Review Meeting of RMB Internationalization Report 2018
2018-04-01 IMI
After the opening address of Prof. Zhuang Yumin, Qian Zongxin, Associate Professor of the School of Finance at Renmin University, introduced the contents and writing situation of the report on behalf of the research team.
Experts and scholars expressed their opinions on the structure, logical framework, thematic conclusions, wording, and data analysis of the report. Mr. Wei Benhua believed that the report’s topic selection was accurate and had several prominent highlights. However, it was necessary to strengthen the details in terms of individual words. Mr. Guo Song proposed a valuable reference from the perspective of the relationship between the RMB internationalization and international coordination and the current situation of China-US relations. Mr. Pan Hongsheng stated that the report was rich in content and the study was solid, but more consideration should be given to realistic factors in terms of international coordination. Mr. Wang Yi provided written opinions, stating that the report should highlight the overall coordination of the “four relations” and provide more in-depth analysis of structural changes to enrich the content. Prof. Ben Shenglin believed that the report could be further combined with the real economy in specific areas. Mr. Chen Weidong proposed that the report was innovative and put forward corresponding suggestions on the specific path of RMB internationalization. Mr. Yan Xiandong said that in the current context, RMB internationalization should pay more attention to changes in domestic and international situations and policy adjustments, and it would be more scientific and rigorous in the argument. Ms. Han Hongmei believed that the report could be more scrutinized in some references. The conclusions and recommendations could further distinguish the levels and highlight the key points. Ms. Qu Fengjie proposed that it could be more dialectical to look at the maintenance of its own interests by countries in the current international competition.
At the end of the meeting, Governor Chen Yulu made a concluding speech. He first stated that the report had important reference value for the formulation of central bank policies and encouraged the research team to continue to make greater contributions to the RMB internationalization. He suggested that the report should strengthen the logical positioning during the process of writing and more clearly describe the “Chinese story” of RMB internationalization. He mentioned that currently China's international status and currency status did not match, and it was still necessary to raise the internationalization level of the RMB by overcoming various difficulties at home and abroad. In addition, he also mentioned the opportunities and risks of digital currency policy for the RMB internationalization. The central bank should strengthen research to gain an international advantage. He suggested that the report should be differentiated both internally and externally, and that it should do well in the conversion of the two arguments at home and abroad and between the two contexts.
