PANews
PANews|Oct 20, 2026 03:06
[Pan Gongsheng: RMB Accounts for Approximately 6%-7% of Global International Payments, Firmly Ranking Third Worldwide] According to a report by Caixin, on October 19, at the 2026 Financial Street Forum Annual Conference, Pan Gongsheng, Governor of the People's Bank of China, stated that based on SWIFT statistics, the RMB accounts for approximately 3%-4% of international payments, ranking fifth globally. If the amounts settled through CIPS and internal banking systems are also included in the statistics, this share is roughly 6%-7%, firmly ranking third globally. Pan Gongsheng also noted that the RMB has become the largest settlement currency for China's external payments and the second-largest trade financing currency globally. Next, the central bank will explore implementing a multi-tier custody arrangement in the opening of the bond market to foreign investors, promote RMB bonds as globally eligible collateral, support the formation of an offshore RMB market structure centered on Hong Kong with coordinated development in London, Singapore, and Dubai, and provide stable and multi-layered RMB liquidity supply for offshore markets.
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