1、 Overview of RMB Internationalization202501White Paper on RMB Internationalization of Bank of China01Member of the Writers Team：Head Office:Xiong Yuanmeng Wang Min Xing Xuewen Wang Chun Shenzhen Branch:Guo Jingjing Suzhou Branch:Zheng Huaiying Fujian Branch:Fu Yu Shanghai Branch:Ma Zhihao Anhui Bran

2、ch:Xia Nan Bank of China(Hong Kong):Zhang Hualin Yang Yongfeng Xie Jinming London Branch:Li Zhenlong Overview of RMB Internationalization202502White Paper on RMB Internationalization of Bank of China202503White Paper on RMB Internationalization of Bank of ChinaCONTENTSI.Overview of RMB International

3、izationi.Policy environment 05ii.Market environment 07iii.Progress in RMB internationalization 10II.Assessment on the role of RMB as an International Currencyi.RMB as a settlement currency 14ii.RMB as a financing currency 16iii.RMB as an investment vehicle currency 21iv.RMB as invoice currency 23v.R

4、MB as a store of value 26III.Cross-border RMB Flows between the Chinese Mainland and the Overseas Marketsi.Total volume and structure of cross-border RMB flows between the Chinese mainland and the overseas markets 29ii.Regional distribution of cross-border RMB flows between the Chinese mainland and

5、the overseas markets 30iii.Usage evaluation and feedback of the cross-border RMB products and services 33iv.Support for cross-border use of RMB through two-way financial market opening 39v.Cross-border use of e-CNY 41IV.Offshore RMB Market Developmentsi.RMB fund flows in offshore markets 47ii.RMB fu

6、nd flows in key regions 48iii.Products and services in offshore RMB markets 50iv.RMB businesses in major offshore RMB centers 54Topic:RMB in Multilateral Cooperationi.Drivers and willingness for multilateral cooperation 59ii.Supporting products and services for multilateral cooperation 62iii.The rol