"Inclusion in the basket" marks the international community's recognition of China's economic development and the status of the RMB. When it comes to the specific impact of SDR on China's economy, many people may not quite understand its importance. Can't tell. However, for ordinary people, what they are most concerned about is what impact will it have on their lives after the RMB is included in the SDR?

In fact, after the RMB joins the SDR, it will indeed have some direct impact on ordinary people's basic necessities of life through its effect on the macroeconomic environment and policy levels.

Impact 1? It will help stabilize the exchange rate and reduce worries about shrinking wallets

Yes, after the RMB is added to the SDR, it will have an impact on ordinary people’s savings through the exchange rate channel.

Currencies included in the SDR currency basket are usually regarded as safe-haven currencies. After the RMB is included in the basket, the demand for RMB from the public and private sectors will increase. As the international market’s demand for RMB continues to rise, the RMB exchange rate It is more likely to remain basically stable or even strong in the future.

In this way, "inclusion in the basket" will help stabilize the RMB exchange rate, reduce depreciation pressure, benefit RMB assets, and alleviate ordinary Chinese people's concerns about shrinking wallets.

Impact 2? You can directly use RMB for consumption in more countries

From a consumption perspective, after being "incorporated into the basket", bulk commodities in the international market can also be priced in RMB. As more and more countries recognize the RMB and are willing to accept the RMB, it will bring convenience to the people for shopping, traveling and other consumption abroad.

In other words, Chinese people may be able to directly use RMB for consumption in more countries in the future, increasing transaction convenience and avoiding exchange rate risks.

For enterprises, due to the gradual increase in demand for RMB in the international market, the RMB exchange rate will be supported in the future, which will directly benefit enterprises’ cross-border investments, transactions, acquisitions, mergers, and purchases of resources, labor services, Technology etc.

Impact 3? Can you buy real estate and speculate in stocks overseas

Under the premise of opening up capital and financial accounts, if the RMB maintains a stable trend after being "entered into the basket", it will be beneficial to investors. Allocate assets and trade globally.

To put it simply, in the future, ordinary people will be able to allocate overseas assets more conveniently, invest in real estate, stocks and bonds abroad, and directly use RMB to buy houses abroad.

Of course, foreign investors can also enjoy more investment and financial management channels in domestic stocks, funds, government bonds, and P2P. It will be more convenient for domestic individual cross-border investments and overseas institutional investors to invest in Chinese capital. Nanfang Daily reporter Zhang Xin

■Zhiduo D

What is SDR?

SDR is an international reserve asset created by the IMF in 1969 to make up for the shortfall in official reserves of member countries. Its value is currently determined by a basket of reserve currencies consisting of the US dollar, euro, Japanese yen and pound sterling.

SDR was originally created to support the Bretton Woods system of fixed exchange rates. Governments or central banks of countries participating in this system need to hold gold and widely accepted foreign currencies to purchase their own currencies in the foreign exchange market to maintain their currency exchange rates.