2026年10月21日，中国金融四十人论坛在上海举办活动，聚焦人民币国际化的进展与挑战，指出该进程正从基础可用性转向全面供应链应用 1。数据显示，2026年上半年货物贸易人民币跨境收付达7.7万亿元，同比增长20.4%，占比升至29.1%；服务贸易人民币结算占比达到36.3%，同比提升4个百分点 1。同期，“一带一路”国家和周边地区人民币收付为5.4万亿元，同比增长12.6%，跨境融资人民币收付为1.3万亿元，增长22.4% 1。此外，熊猫债发行量显著增加，上半年达1600.3亿元，同比增长约70% 1。目前，人民币已成为我国对外收支第一大结算货币，以及全球第二大贸易融资货币、第三大支付货币和第五大外汇交易货币 1。香港作为重要枢纽，拥有超过1万亿元的人民币存款，处理了超过75%的人民币国际支付 1。
尽管数据表现亮眼，金融机构代表指出了国际投资者面临的实际障碍。渣打银行副行长杨京表示，国际投资者重点关注资金进入的便利性、流动性充足性及风险管理能力 1。汇丰银行张捷则提到，客户关心包含兑换因素在内的全成本、离岸流动性不稳定及结算效率问题 1。针对这些关切，专家强调需通过完善金融基础设施、提供长期对冲产品及增强市场透明度，来解决可兑换性、流动性和退出机制等问题，从而吸引国际投资者并推动人民币成为多元货币体系中的可信选择 1。
The internationalization of the renminbi is transitioning from establishing basic usability to achieving comprehensive application within global supply chains 1. Data from the first half of 2026 indicates a significant rise in RMB settlement shares for both goods and services trade, alongside substantial growth in cross-border financing and Panda bond issuances 1. The renminbi has solidified its position as China’s largest settlement currency for external balance of payments, while ranking as the second-largest currency for trade finance, third-largest for payment, and fifth-largest for foreign exchange trading globally 1.
Specific metrics show that cross-border receipts and payments for goods trade reached 7.7 trillion yuan in the first half of 2026, a year-on-year increase of 20.4%, pushing the settlement share to 29.1% 1. For service trade, the RMB settlement ratio climbed by 4 percentage points year-on-year to reach 36.3% 1. During the same period, RMB receipts and payments involving Belt and Road countries and neighboring regions totaled 5.4 trillion yuan, up 12.6% from the previous year, while cross-border financing flows grew by 22.4% to 1.3 trillion yuan 1. Additionally, Panda bond issuance surged approximately 70% year-on-year to 160.03 billion yuan 1. Hong Kong continues to serve as a critical hub, holding over 1 trillion yuan in RMB deposits and processing more than 75% of international RMB payments 1.
Despite these quantitative gains, experts emphasize that addressing structural issues regarding convertibility, liquidity, and exit mechanisms is crucial for attracting international investors 1. Yang Jing, Deputy General Manager at Standard Chartered Bank, noted that global investors prioritize ease of capital entry, sufficient liquidity, and effective risk management capabilities 1. Zhang Jie from HSBC highlighted client concerns regarding full costs including exchange factors, unstable offshore liquidity, and settlement efficiency 1. To overcome these challenges and establish the renminbi as a credible option in a multi-currency system, stakeholders argue for improvements in financial infrastructure, the provision of long-term hedging products, and enhanced market transparency 1. These insights were shared during an event held in Shanghai on October 21, 2026, involving entities including the People's Bank of China, the New Development Bank, HSBC, Standard Chartered Bank, and the China Finance 40 Forum 1.
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