Nankai University and Renmin University of China jointly held the 2024 International Monetary Forum. The 2024 Annual Report of Renminbi Internationalization was released at the forum. Well-known experts and scholars from domestic financial management bodies, universities, research institutes and financial circles gathered at Nankai University to conduct discussions centered around “Global Supply Chain and Financial Powerhouse”.

The 2024 Annual Report of Renminbi Internationalization, which has the theme of “Sustainable Global Supply Chain System and International Monetary and Financial Reform”, systematically elaborates on the significance of international monetary and financial reform to the sustainability of global supply chains, and demonstrates that a country’s monetary and financial system serving the sustainability of the global supply chain will contribute to the country’s financial modernization and currency internationalization. From the international monetary and financial perspective, the research group focuses on how the financial system supports the sustainability of the global supply chain system and how to universally improve the welfare level of countries (regions) relevant to the global supply chain through financial support functions, providing a theoretical analysis framework for discussing the relationship between the international monetary and financial system and the sustainable global supply chain.

The report released the RMB Internationalization Index (RII), and also focuses on discussing the three functions of finance serving sustainability of global supply chains: accommodation of funds, risk management and cross-border payment. According to the report, the more important an economy is in the global supply chain, the more significant the effect of raising the welfare level of supply chain partners and enhancing the resilience of the global supply chain through financial services. As the ability of a country to serve the sustainability of the global supply chain through financial system improves, the foundation for the international use of the country’s currency will be reinforced. At the same time, this report also sets out the main problems and challenges facing the global supply chain, and puts forward corresponding policy recommendations based on the analysis of the current situation of the international monetary and financial system that serves the inclusive, green and sustainable development of the global supply chain.

The opening ceremony of the forum and the press conference of the 2024 Annual Report of Renminbi Internationalization were held at the lecture hall of Xingshen Building on the Balitai Campus of Nankai University.

Ma Jiantang, former Chair of the Development Research Center of the State Council; Liu Guiping, Executive Vice Mayor of Tianjin; Zhu Guangyao, former Vice Minister of Finance; Zhang Donggang, Chancellor of Renmin University of China; Chen Yulu, President of Nankai University; Wu Xiaoqiu, former Vice President of Renmin University of China; Huang Haizhou, member of the Monetary Policy Committee of the People’s Bank of China; Liang Jun, Deputy Secretary-General of Tianjin Municipal Government; Liu Huijie, Deputy Director of the Financial Office of Tianjin; Chu Chenglong, President of Tianjin Branch of Industrial and Commercial Bank of China; and Sheng Bin, Vice President of Nankai University, attended the event.

Liu Guiping delivered a speech at the opening ceremony.

Zhang Donggang delivered a speech

Chu Chenglong delivered a speech

In his concluding remarks, Chen Yulu reviewed the history of the International Monetary Forum and the long-standing friendship between Nankai University and Renmin University of China in the economics and finance subject. He said that the global supply chain and the international monetary and financial system are important global public goods, and that a sustainable global supply chain is the real foundation and value cornerstone of the international monetary and financial system. It is expected that this forum pools the strength of the academic community to contribute to the building of a strong financial industry.

Wang Fang, editor-in-chief of the 2024 Annual Report of Renminbi Internationalization, deputy dean of the School of Finance of Renmin University of China, and deputy director of the International Monetary Institute (IMI), interpreted the report.

Sheng Bin presided over the opening ceremony of the forum and the press conference of the 2024 Annual Report of Renminbi Internationalization.

Ma Jiantang delivered a keynote speech on the relationship between the government and the market

Zhu Guangyao delivered a keynote speech on “China’s Economy and the World Economy”.

Wu Xiaoqiu started by explaining the basic functions of finance, and pointed out that a correct understanding of the role of finance is an important prerequisite for building a strong financial industry.

Huang Haizhou elaborated on the current situation of global economic growth and its future trend.

Zhuang Yumin, Dean of the School of Finance of Renmin University of China, presided over the keynote speech session.

The forum includes three theme forums with the theme of “Global Supply Chain and High-Quality Financial Development”, “Global Supply Chain Development and International Financial Reform”, and “Internationalization on Digital Renminbi”. The participants conducted in-depth discussions on topics related to international currency.

It is reported that the International Monetary Forum is an annual international forum, which has been held for 12 sessions since 2012. The forum releases the Report of Renminbi Internationalization and conducts discussions on important theories and phenomena in the field of international finance. The forum draws well-known experts and scholars from research institutes, government departments and financial institutions in Europe, the United States, Asia, Africa and other regions. Since its establishment, the International Monetary Forum has not only focused on hot domestic financial issues, but also adopted an international perspective to study the internationalization of Renminbi, explore the currency crisis in emerging markets, and promote exchanges of views on international market trends. The event is a combination of theory and practice.

（Edited and translated by Nankai News Team.)