2026人民币国际使用白皮书

Member of the Writers Team Head Office: Xiong YuanmengWang MinShenzhen Branch: Yan YaruSuzhou Branch: Zheng HuaiyingGu JunFujian Branch: Tuo HuijunYe HuiShanghai Branch: Zeng HuixinAnhui Branch: Xia NanBank of China(Hong Kong): Gao JiqiaoGuo JiaLondon Branch: Li ZhenlongXiong Ting I. Introduction........................................................................................................................04II. Macro Environment and Positive Progress of the Global Use of RMB.......................................................................................................................................................06III. Policy Support for the Cross-border Use of RMB(I) Enhancing Convenience of Cross-border RMB Settlement..................................12(II) Upgrading Supporting Facilities for RMB Bond Investment and Financing......12(III) Building a Multi-Channel, Complementary Cross-border Payment andSettlement System...................................................................................................................13(IV) Promoting Development of Offshore RMB Markets..............................................14IV. Description on the Market Survey Sample of This Year........................17V. Market Participants' Assessment on the Functions of RMB as anInternational Currency(i) RMB as a Settlement Currency.......................................................................................20(ii) RMB as a Financing Currency........................................................................................21(iii) RMB as an Investment Currency..................................................................................24(iv) RMB as Invoice Currency...............................................................................................28(v) RMB as a Store of Value..................................................................................................31 VI. The Cross-border Use of RMB by Domestic Enterprises of China (i) Cross border use of RMB by domestic enterprises and the relevantassessments and feedbacks................................................................................................35(ii) Cross-border use of RMB by Different Types of Domestic Industrial andCommercial Enterprises.........................................................................................................36VII. RMB Products and Service in Offshore Markets(i) Overview of Offshore RMB Products and Services..................................................41(ii) Offshore RMB Exchange and the Supporting Exchange Rate RiskManagement Services............................................................................................................44(iii) Clearing Infrastructure and Service Channels..........................................................46VIII. RMB Business in Major Offshore RMB Centers(i) Overview of RMB Business in Major Offshore RMB Centers................................48(ii) RMB Products and Services in Major Offshore RMB Centers.............................50(iii) RMB Liquidity Access Channels in Major Offshore Centers................................52Special Topic: The RMB in Currency Swap Cooperation............................56Appendix I:Major Events Related to Global use of RMB in Overseas Markets.......59 The Bank of China White Paper on the Global Use of RMB (hereinafterreferred to as the White Paper) is an annual report issued by Bank of China.The report is based on a questionnaire survey which was conducted by Bankof China through its global business network. The evaluation and feedbackfrom domestic and foreign market entities on the cross-border use of RMBproducts and services are collected and sorted out and compiled into theWhite Paper. The 2026 survey received feedback from over 3,600 market entities from 43countries and regions worldwide, including 2,488 domestic enterprises, 582overseas Chinese-funded enterprises, 435 overseas non-Chinese-fundedenterprises, and 108 overseas financial institutions1. The questions covered the level of global use of RMB, evaluation of RMB'srole as an international currency, preferences and evaluation oncross-border RMB products and services, service channels and the relatedinfrastructure, and the availability of cross-border RMB products. Theresponses to these questions collectively reflected the development trendsand overall status of the global use of RMB in 2025. Introduction The survey results show that the intention to use cross-border RMB bydomestic and foreign market entities was stable; the role of RMB as aninternational currency and the service experience by enterprises usingcross-border RMB was improving; the role of RMB in facilitatingcross-border trade and investment has been more prominent. The surveyalso finds that there remain difficulties and bottlenecks in the cross-borderuse of RMB. For instance, cross-border RMB products and services remainto be further p