Ms. Huang, a citizen of Zhengzhou who loves to travel abroad, has the most direct feeling that she has to make an appointment with the bank to exchange money before going abroad, and she has to convert the remaining foreign currency into RMB after returning home. "Sometimes there will be exchange losses, and more importantly, the procedures for exchange of foreign exchange are somewhat complicated, which is particularly time-consuming." Ms. Huang told reporters.
"After the renminbi enters the basket, more and more countries will be willing to accept the renminbi." Tommy believes that with the increasing influence of RMB in the world, it will be more convenient for domestic citizens to travel, shop, study abroad and invest abroad in the future.
Zhou Zhiyun, an analyst of New Century Futures, said that this is also of positive significance to foreign trade enterprises in China. "In the future, the import and export of bulk commodities is expected to be settled directly in RMB, which will help reduce the exchange risk and cost of domestic enterprises and improve the efficiency of import and export enterprises."
The entry of RMB into the basket also boosted the domestic capital market. Recently, the market has taken this as an important reference index for investment. In this regard, some analysts have suggested that the significance of RMB "entering the basket" is more reflected in the long term and should not be over-interpreted in the short term.
"In essence, the key to determining the attractiveness of RMB assets lies in the China economy itself." Tommy said that at present, China's economy is in the process of structural adjustment and is facing a complicated situation. In addition, the interest on RMB assets needs to be further released, and the situation of cross-border capital inflows in the short term needs to be observed.
She also said that comparing the yield trend of Chinese and American government bonds, it is not difficult to find that with the strengthening of the US economic recovery, the spread between Chinese and American government bonds in yield to maturity is gradually narrowing. "In the context of China's economic restructuring and the strong recovery of the US economy, the entry of RMB into the basket will not prompt a large amount of cross-border funds to flow into China." Tommy said.
Some market participants also believe that the renminbi's "entry into the basket" will significantly enhance the status of the renminbi, and the corresponding status of the US dollar and the euro will be significantly reduced. In this regard, the above-mentioned relevant people said that this view is too naive. Judging from the history of international financial evolution, influenced by institutional inertia, the change of monetary status is a very slow and gradual process.
At the same time, this person believes that in order to truly enhance the international status of the RMB, the China government needs to do three things in the next 10 year: First, China's economy will maintain an average annual growth rate of 6%-7%; Second, China's financial market has made great progress and development; Third, there is no systemic risk in China's economy.
"China is a big country. In such a big country, it is most important to practice internal strength. " He further stated that the most important thing for the China government is to use the current time window to speed up the domestic structural reform.