First of all, it can play the role of a catalyst for reform. The entry of RMB into SDR currency basket will have an important impact on China's financial reform and the trend of RMB exchange rate. "In the short term, China is likely to take the inclusion of SDR as a catalytic factor for financial reform, especially in capital account opening and exchange rate system reform, which will correspondingly promote domestic interest rate marketization and capital market reform."

In addition, the inclusion of SDR is undoubtedly an important step in the internationalization of RMB. Zhu Haibin believes that SDR itself is not an important reserve asset, but four SDR currencies account for 92.9% of the global foreign exchange reserves (USD: 62.9%; Euro: 22.2%; Japanese yen: 4.0%; Pound: 3.8%). The inclusion of RMB in SDR will further encourage central banks and sovereign wealth funds to hold RMB-denominated assets, thus enhancing the status of RMB as a reserve currency.

At the same time, RMB assets will be more popular. According to Standard Chartered Bank's estimation, if RMB joins SDR, countries may increase onshore China national debt by 6.2 trillion yuan (about 1 trillion US dollars) before 2020; Of the global foreign exchange reserves of110.6 trillion US dollars, 10% will be converted into RMB assets.

In addition, it is good for China to strive for the pricing power of commodities.

"As a big consumer, China's accession to SDR will make the RMB competitive in commodity pricing. In addition, the wider the use of the renminbi and the higher the degree of internationalization, the easier it is for China enterprises to invest overseas through trade and investment, and the lower the cost. "

However, some insiders believe that in the short term, the inclusion of RMB in SDR is more symbolic. Founded more than 40 years ago, SDR has played a very small role in the international financial field so far. At present, SDR assets only account for 2.4% of global foreign exchange reserves. However, the symbolic significance of RMB's entry into SDR is very important: it can be regarded as an international recognition of China's growing economic importance and its role in the global financial market. In recent years, China has been actively participating in the global dialogue on the reform of the international financial architecture, including the reform of the corporate governance structure of existing international financial institutions. China also took the lead in establishing the Asian Infrastructure Investment Bank (AIIB) and the BRICS Development Bank, and made efforts to promote regional economic integration.

For all countries in the world, RMB joining SDR can also be said to be a good thing for the people.

"RMB joining SDR will help reduce the fluctuation of SDR exchange rate and reduce the impact of SDR as a reserve currency fluctuation on the world economy."