Zhongnan Grand Lecture Hall(Issue 5, 2026)

Abstract: The 15th Five-Year Plan period is a critical window for elevating the renminbi's (RMB's) international standing, with the goal of becoming one of the world's major currencies rather than replacing the U.S. dollar, aiming to promote a multipolar, equitable, and stable international monetary system. This endeavor should adhere to six principles, including high-quality development, while leveraging China's massive economic scale, trade volume, exchange rate stability, and the Cross-border Interbank Payment System (CIPS). Currently, it faces six major challenges: a relatively low share of international use, constraints on the model of financial market opening-up, a weak asset base, the Triffin dilemma, resistance from major-power competition, and external environmental uncertainties. Countermeasures include: taking the vision of a community with a shared future for mankind as guidance, and deepening institutional opening-up; expanding renminbi use through multilateral mechanisms such as the Belt and Road Initiative and BRICS; promoting a shift from debt-based output to diversified equity investment; focusing on overseas infrastructure investment to build long-term cooperation platforms; shifting the assets underpinning internationalization from foreign exchange reserves to returns on overseas financial assets; and strengthening the development of an autonomous and controllable CIPS to solidify the foundational infrastructure.

Speaker Introduction：

Guogang Wang is a National First-Class Professor at Renmin University of China, a Member of the Academic Division of the Chinese Academy of Social Sciences (CASS), and an Expert receiving Special Government Allowance from the State Council. He formerly served as Director of the Institute of Finance at CASS and Vice President of Huaxia Securities. He has long devoted himself to research on macrofinance, financial reform, capital markets, and coordinated urban-rural development, and is a leading authority in domestic capital markets, urbanization finance, and monetary policy. He also serves as an Expert Reviewer for the National Social Science Fund of China and as an Advisor to national-level financial think tanks. His research combines theoretical innovation with policy value; in 1998, he was the first to propose constructing a multi-tiered capital market system, which was subsequently incorporated into State Council documents. From 1993 to 2012, he participated in the drafting and revision of multiple financial laws, including the Company Law, Securities Law, Trust Law, and Securities Investment Fund Law. He has authored 51 books, led more than 40 major and key projects at the national and ministerial/provincial levels, won the 15th Sun Yefang Economic Science Award, and received more than 30 awards at or above the ministerial/provincial level.