以下为文章全文:
The 10th Anniversary of RMB InternationalizationAnd Future Path——Constructing ANew Ecological Circle Of RMB Internationalization Under Financial Markets Opening
In the past decade, RMB, as an international settlement and reserve currency, have made progress during its internationalization amid combined efforts of policy-driven development and market traction. Looking ahead,the reversing of economic globalization and the resurgence of trade protectionism will present unprecedented challenges to international economic and financial situation. In response to the changing external environment, China has launched the second round of high-level financial opening since its entry into the WTO, involving banks, securities, funds, insurance, ratings agencies, third-party payment, and financial markets. With improving infrastructure and optimized supporting policies inthe capital markets, interconnection between domestic financial markets and overseas markets has been enhanced, which could increase the linkage between domestic and external interest rates, and intensify exchange rate volatility. Thedramatic adjustment of internal and external environment will then directly affect the development path of RMB internationalization.