人民幣全球交易份額降至三年半低位

China’s hopes of achieving global acceptance for the renminbi have been set back by data showing the share of international transactions in its currency at its lowest level in more than three and a half years.

中國(guó)對(duì)人民幣獲得全球認(rèn)可的希望遭遇挫折，數(shù)據(jù)顯示人民幣在國(guó)際交易中的份額降至逾三年半以來(lái)最低水平。

Data from the Swift global bank payment messaging network showed the share falling from 1.85 per cent in September to just 1.46 per cent last month, its lowest level since April 2014.

環(huán)球銀行金融電信協(xié)會(huì)(SWIFT)全球銀行支付信息網(wǎng)絡(luò)的數(shù)據(jù)顯示，人民幣在國(guó)際交易中的份額從9月份的1.85%下降到10月的1.46%，為2014年4月以來(lái)的最低水平。

That means the currency’s share has nearly halved since its peak in 2015.

這意味著人民幣所占份額自2015年見頂以來(lái)幾乎減半。

Markets had expected its global share to continue rising after the renminbi last year became the fifth currency to be added to the International Monetary Fund’s special drawing rights basket, joining the dollar, euro, yen and pound.

市場(chǎng)此前預(yù)計(jì)，繼去年人民幣成為第五種被納入國(guó)際貨幣基金組織(IMF)特別提款權(quán)籃子的貨幣，加入美元、歐元、日元和英鎊的行列后，其全球份額將繼續(xù)攀升。

The renminbi’s admission was conditional on China becoming more transparent and opening its financial markets. The MSCI’s inclusion next year of China’s A-shares in its global indices continues this trend. China has also been opening its fixed income markets to foreign investors.

人民幣入籃的條件是中國(guó)變得更加透明，并開放金融市場(chǎng)。MSCI明晟明年把中國(guó)A股納入其全球指數(shù)將延續(xù)這一趨勢(shì)。中國(guó)也在向外國(guó)投資者開放其固定收益市場(chǎng)。

In spite of these measures and talk of internationalisation, “the reality is that the yuan is becoming less relevant in the international arena”, said Sue Trinh of RBC Capital Markets.

盡管有這些措施和國(guó)際化的言論，但“現(xiàn)實(shí)是人民幣在國(guó)際舞臺(tái)上變得越來(lái)越不相關(guān)了，”加拿大皇家銀行資本市場(chǎng)(RBC Capital Markets)的Sue Trinh表示。

The reason, she added, was down to “heavy-handed intervention across the financial markets” that has eroded the renminbi’s international appeal.

她補(bǔ)充說，原因在于“對(duì)各個(gè)金融市場(chǎng)的高壓干預(yù)”侵蝕了人民幣的國(guó)際吸引力。

China is weighed down by numerous and conflicting priorities, said Kit Juckes at Société Générale.

法國(guó)興業(yè)銀行(Société Générale)的基特•朱克斯(Kit Juckes)表示，中國(guó)被大量且互相沖突的優(yōu)先事項(xiàng)拖累了。

“Beijing is trying to control capital flows, contain the shadow banking system and prevent a debt crisis, make sure the economy continues to grow, contain a pollution crisis, and promote the internationalisation of the currency,” Mr Juckes said. “That’s a lot of priorities which can’t all be achieved at the same time.”

朱克斯說：“北京正試圖控制資本流動(dòng)，抑制影子銀行體系，防止債務(wù)危機(jī)，確保經(jīng)濟(jì)持續(xù)增長(zhǎng)，遏制污染危機(jī)，以及促進(jìn)人民幣國(guó)際化。這是一大堆優(yōu)先事項(xiàng)，不可能同時(shí)實(shí)現(xiàn)。 “

But its success in slowing capital outflows had helped stem declines in its currency reserves and increased the authorities’ control over the renminbi’s value, Mr Juckes added. “A temporary decrease in its use in global payments is probably a price worth paying.”

朱克斯表示，但中國(guó)在減緩資本流出方面的成功已經(jīng)幫助阻止外匯儲(chǔ)備下滑，并加強(qiáng)了當(dāng)局對(duì)人民幣價(jià)值的控制。 “全球支付使用量暫時(shí)下降很可能是一個(gè)值得付出的代價(jià)。”

The start of the renminbi’s loss of market share coincided with worries about China’s slowdown in August 2015, which triggered the renminbi’s devaluation, followed by another scare in January 2016, said Simon Derrick of BNY Mellon.

紐約梅隆銀行(BNY Mellon)的西蒙•德里克(Simon Derrick)表示，人民幣開始失去市場(chǎng)份額的時(shí)間，恰好是2015年8月人們開始擔(dān)憂中國(guó)經(jīng)濟(jì)放緩之時(shí)，當(dāng)時(shí)這方面的擔(dān)憂引發(fā)了人民幣貶值，2016年1月的又一次恐慌再次引發(fā)人民幣貶值。

“The decline seen over the past few months is even more interesting, given the lack of any obvious pressures in the renminbi market. Have we missed something?” added Mr Derrick.

德里克說：“鑒于人民幣市場(chǎng)并無(wú)任何明顯壓力，過去幾個(gè)月的下降更有意思。我們錯(cuò)過了什么嗎?”

The renminbi is now only the seventh most traded currency internationally, behind the Canadian dollar and just above the Australian dollar.

人民幣現(xiàn)在跌回全球第七大交易貨幣，排在加元之后，澳元之前。

The US dollar leads the way, with 39.47 per cent, followed by the euro (33.98 per cent), sterling (7.71 per cent), the Japanese yen (2.92 per cent) and the Swiss franc (1.63 per cent).

美元以39.47%排在第一位，其次是歐元(33.98%)、英鎊(7.71%)、日元(2.92%)和瑞士法郎(1.63%)。

The euro was the biggest gainer in the latest data, up 1 per cent on the previous month, while the dollar was down 0.3 per cent.

最新數(shù)據(jù)顯示歐元份額升幅最大，比前一個(gè)月上升1%，而美元份額下降了0.3%。