Rani Jarkas: RMB becomes widely accepted in cross-border transactions

Last year, the IMF decided to add yuan into its Special Drawing Rights (SDR) currency basket, making it one of the five reserve currencies fully endorsed by the 188-member organization.

Chinese currency is increasingly being accepted in cross-border transactions, as the currency gains increased global recognition. IMF data showed that $94 billion of official assets were already held in renminbi at the end of 2014, accounting for 1.1 percent of global foreign exchange reserves.

According to report from the People’s Bank of China, the volume of cross-border renminbi receipts and payment in 2015 reached 12.1 trillion yuan ($1.83 trillion), accounting for 28.7% of the total volume of cross-border receipts and payments.

China has aggressively promoted global use of the renminbi, as the world’s largest trading nation looks to lower transaction costs in international trade, which currently is mostly settled in US dollars.

PBOC declared that by the end of 2015, yuan had become the third most-used currency in cross-border trade and financing. It took fifth place among all currencies for use in international payments and foreign exchange trading. And the currency looks set to take up a greater share of global reserve currency assets.

Rani Jarkas, Chairman of Cedrus Investments, an investment pioneer with years of financial experience in Asia, said, “I believe that yuan will become a major currency and one of the most important in cross-border current account trading, and overseas investors will enjoy wider access to yuan-denominated investment and financing products.”

Rani Jarkas, the Chairman of Cedrus Investments.

Rani Jarkas is a highly experienced financial services executive, with over 20 years of international banking experience. Currently, Mr. Jarkas is the Chairman of Cedrus Investments, a global boutique investment firm. Cedrus’ domain expertise is in life sciences, natural resources, energy, cleantech and nanotechnology. – Rani Jarkas

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王雷(Rani Jarkas):人民币跨境交易国际接受程度不断提高

去年,国际货币基金组织决定将人民币纳入特别提款权(SDR)货币篮子,成为该组织188个成员国背书的五大储备货币之一。

随着人民币的国际认可度不断提升,人民币在国际交易的使用日益发展。国际货币基金组织数据显示截止2014年底,共有940亿美元的人民币官方储备资产,占到全球外汇储备的1.1%。

根据中国人民银行发布的《2016人民币国际化报告》,2015年跨境人民币收付金额合计12.1万亿元(1.83万亿美元),占同期本外币跨境收付总额的比重达28.7%。

目前美元仍为国际贸易结算第一大货币。但作为全球最大的贸易国,中国希望降低国际贸易交易成本,积极推动人民币的国际使用。

中国人民银行统计,截止2015年底,人民币已成为全球第三大贸易融资货币、第五大支付货币、第五大外汇交易货币。另外,人民币正在积极努力提高其在国际储备货币资产中的份额。

赛德思投资董事长王雷(Rani Jarkas)在亚洲有多年的金融投资经验。他表示:“我相信人民币将成为主要货币并在全球跨境经常项目交易中举足轻重,全球投资者将迎来更多人民币计价的投资和融资产品。”

Rani Jarkas, the Chairman of Cedrus Investments.

Rani Jarkas is a highly experienced financial services executive, with over 20 years of international banking experience. Currently, Mr. Jarkas is the Chairman of Cedrus Investments, a global boutique investment firm. Cedrus’ domain expertise is in life sciences, natural resources, energy, cleantech and nanotechnology. – Rani Jarkas