| 摘要: |
| 摘要：强大的人民币是加快建设金融强国、贸易强国的重要基石，然而货币国际化并非能一蹴而就。若通过短期内的金融自由化强行提速，在实体经济发展与之不匹配的情况下，将会引发诸多问题。基于企业计价选择理论，结合美元、德国马克、日元国际化的历史经验，系统分析贸易计价在货币国际化进程中的基础作用，揭示微观企业决策、中观行业特性与宏观政策环境的多层影响机制。研究发现，贸易计价的广泛应用有助于规避汇率风险、增强供应链韧性，推动货币从计价功能向价值贮藏功能升级。结合人民币国际化的现状，提出以新质生产力赋能产品差异化、深化“一带一路”贸易投资联动、强化金融市场与货币互换协同等务实路径，为畅通国内国际双循环、维护国家经济安全提供支撑。 |
| 关键词: 关键词：人民币国际化；贸易计价；国际经验；新质生产力；“一带一路” |
| DOI： |
| 分类号:F822.1 |
| 基金项目: |
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| Trickles to the Ocean：The Path of RMB Internationalization from the Trade Invoicing Perspective |
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BAI Xiao-ke
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（National Association of Financial Market Institutional Investors）
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| Abstract: |
| Abstract：A strong RMB is a crucial foundation for accelerating the building of a financial powerhouse and a trading powerhouse,yet currency internationalization cannot be achieved overnight.If financial liberalization is forcibly accelerated in the short term without matching progress in the real economy,it will lead to numerous problems.Based on the theory of trade invoicing currency choice and drawing on historical experiences of the US dollar,German mark,and Japanese yen’s internationalization,this study systematically analyzes the foundational role of trade invoicing currency choice in the process of currency internationalization,revealing the multi-layered influence mechanisms of micro-level corporate decisions,meso-level industry characteristics,and macro-level policy environments.The research finds that the widespread application of trade invoicing currency choice mitigate exchange rate risks,enhance supply chain resilience,and promote the upgrading of currency from a pricing function to a value storage function.In light of the current status of RMB internationalization,practical approaches are proposed,including empowering product differentiation with new productive forces,deepening the linkage between “Belt and Road” trade and investment,and strengthening the synergy between financial markets and currency swaps,to support the smooth flow of domestic and international dual circulation and safeguard national economic security. |
| Key words: Key words：RMB Internationalization；Trade Pricing；International Experience；New Quality Productive Forces；“the Belt and Road” |
