英语新闻丨香港将强化离岸人民币业务枢纽地位

China will reinforce the role of the Hong Kong Special Administrative Region as an offshore renminbi hub to bolster its efforts to steadily lift the global profile of the renminbi, a course that is significant for both China and the world economy, according to financial officials and experts.金融专家表示，中国将加强香港特别行政区作为离岸人民币业务枢纽的作用，提升人民币国际认可度，此举对国内及世界经济都具有重要意义。This would be a feasible option as China seeks to open its financial markets wider to overseas investors, while also forestalling the risks of any drastic fluctuations in cross-border capital flows that could threaten national security amid rising external uncertainties, they said.中国将向广大海外投资者开放金融市场，同时规避外界动荡所导致的跨境资本大幅波动对国家安全所造成的风险。Huang Yiping, dean of Peking University's National School of Development, said, "With full capital account liberalization unlikely in the short term, China should consider developing the Hong Kong SAR into the largest offshore renminbi market.""In this way, although 'nonresidents', or international investors, cannot completely freely enter and exit the capital market of the Chinese mainland, they can freely trade and hold renminbi-denominated assets in the Hong Kong market. This can provide crucial support for internationalizing the renminbi," he said.北京大学国家发展研究院院长黄益平表示：“由于短期内不太可能实现全面资本账户自由化，中国应考虑将香港特区发展成为最大的离岸人民币业务枢纽。这样一来，尽管‘非居民’、国际投资者无法完全进出中国大陆的资本市场，但仍可以在香港进行自由交易、计价持有人民币资产。”Huang's words echoed the resolution adopted at the third plenary session of the 20th Central Committee of the Communist Party of China, which vowed to promote high-standard opening-up of the financial sector, steadily and prudently advance the internationalization of the renminbi and develop offshore renminbi markets.中国共产党第二十届三中全会通过了《中共中央关于进一步全面深化改革推进中国式现代化的决定》（以下简称《决定》），要求推动金融高水平开放，稳慎扎实推进人民币国际化，发展人民币离岸市场。In an article published in a book to interpret the resolution, Wang Jiang, executive deputy director of the office of the Central Financial Commission — which is responsible for top-level design of financial stability and development — underlined strengthening the function of the Hong Kong SAR as a hub for offshore renminbi business as one of the key means to promote financial opening-up.中央金融委员会办公室分管日常工作的副主任、中央金融工作委员会分管日常工作的副书记王江在解读《决议》时强调，加强香港特别行政区作为离岸人民币业务枢纽的功能，是推动我国金融开放的关键手段之一。Tian Xuan, vice-dean of Tsinghua University's PBC School of Finance, said that Hong Kong's unique position as an international financial center should be further leveraged, citing that Hong Kong's advantages in terms of financial institutions, talent and infrastructure remain significant.清华大学五道口金融学院副院长田轩表示，香港作为国际金融中心，其独特地位应发挥作用，并指出香港在金融机构、人才和基础设施方面具有显著优势。However, Tian highlighted the need to appropriately handle the pace of financial opening-up and renminbi internationalization, especially regarding capital account liberalization."We need to continue opening up our capital markets. We still have a long way to go, but we must also learn from the lessons of other economies, particularly those in South America, that took overly aggressive steps that triggered financial chaos and even caused national security concerns."然而，我国需要妥善应对金融开放和人民币国际化，特别是在资本账户自由化方面，田轩认为：“我国还有很长的路要走，需要继续开放资本市场，但也必须吸取其他经济体的教训，尤其是南美洲经济体。（南美洲经济体）采取了过于激进的措施，引发了金融混乱，甚至引起国家安全的动荡。”The resolution also stressed financial security. It said that as China opens wider to the outside world, the country needs to "strengthen financial security mechanisms "and promote the development of a homegrown, controllable cross-border payment system.《决议》还强调了财政安全。随着中国对外开放的扩大，建设安全高效的金融基础设施，统一金融市场登记托管、结算清算规则制度，建立风险早期纠正硬约束制度，筑牢有效防控系统性风险的金融稳定保障体系。In an exclusive interview with China Daily, Zhu Min, former deputy managing director of the International Monetary Fund, said China is gradually advancing renminbi internationalization."It will take a long way. But I think the world sees that a dominant US dollar is not necessarily a good thing for the whole world, because US monetary policy and fiscal policy may have a big impact on the dollar's value and capital movements," Zhu said."Having a more balanced force against the dollar is good for the whole world. So I think the renminbi will continue to internationalize to serve that role, not only for China, but for the whole world, and particularly for international financial architecture," he added.国际货币基金组织原副总裁朱民接受中国日报《智见中国》栏目独家专访时表示：“中国正在逐步推进人民币国际化，尽管还有很长的路要走，但我认为全世界都应该看到，美元占领世界主导地位对世界来说并不一定是好事，因为美国的货币政策和财政政策可能会对美元价值和资本流动产生重大影响。（人民币）平衡美元的主导地位对于世界经济是有好处的。我认为人民币将继续国际化，对中国和国际金融架构发挥其平衡作用。”The renminbi has recently recovered against the dollar as investors seek diversification amid expectations of a US Federal Reserve rate cut and concerns over a US economic hard landing. The onshore renminbi came in at 7.2583 against the greenback on Monday afternoon, following a 557 basis point rebound on Thursday.人民币对美元汇率最近有所回升，有可能是投资者在对美联储降息的预期以及对美国经济硬着陆的担忧下寻求多元化投资。截至7月29日，在岸人民币对美元汇率收盘报7.2583，较上一交易日（7月25日）上涨557个基点。The RMB Internationalization Index, or RII, a comprehensive measure of the currency's global use regarding trade settlements, financial transactions and official reserves, reached 6.32 at the end of 2023, Renmin University of China's International Monetary Institute said on Saturday.7月27日，中国人民大学国际货币研究所（International Monetary Institute）表示，人民币国际化指数（RII）综合考虑了人民币在贸易计价结算、金融交易和官方储备等方面执行国际货币职能的情况（数值越大表示国际化越强）；截至2023年底，我国RII已达6.32。The figure was below the US dollar's 51.52 and the euro's 25.03, but exceeded the Japanese yen's 4.4 and the British pound's 3.76. The RII's full-year average rose 22.9 percent year-on-year to 6.27, highlighting the RMB's momentum as an emerging international currency due to its increasing use.该指数低于美元的51.52和欧元的25.03，但超过了日元的4.4和英镑的3.76。我国RII的全年平均值达6.27，同比增长22.9%；人民币作为新兴国际货币的势头与日益增长的使用量密不可分。RMB Internationalization Indexn.人民币国际化指数Renmin University of China's International Monetary Instituten.中国人民大学国际货币研究所