Experts discuss domestic demand, currency internationalization at Tianjin forum

At the 2026 International Monetary Forum in Tianjin on Sunday, experts discussed the relationship between domestic demand and currency internationalization and called for improved global financial governance.

During the event, hundreds of industry experts analyzed the shifts in global sovereign debt and monetary systems. The theme of needing to improve governance on the topic came alongside calls for making international currencies multipolar and increasing the function of the renminbi around the globe.

Zhang Bin, deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, analyzed China's external economic imbalances and the intrinsic connections among domestic demand, foreign demand, the exchange rate, and the internationalization of the renminbi. He found that domestic demand is a core factor influencing the RMB exchange rate, connecting the improvement of domestic livelihoods, employment, and enterprise development with the stability of the RMB exchange rate and its internationalization.

Ding Zhijie, director of the Financial Research Institute of the People's Bank of China, pointed out that after enduring multiple rounds of market fluctuations, the RMB has demonstrated characteristics of a mature currency and has established a currency anchor effect at the factual level in Asia and along the Belt and Road regions.

Ding stressed that advancing the internationalization of the RMB requires attention to both the feasibility and the willingness of foreign institutions and enterprises to use the RMB.

Hao Keying and Guo Yihuai contributed to this story.