Recently, there have been new news about the internationalization of the Chinese yuan. On May 16th, the liquefied natural gas (LNG) transport ship "Marvin" from the United Arab Emirates was successfully unloaded in Guangdong, becoming China's first imported LNG settled in RMB; On May 15th, the interconnection and cooperation between the mainland and Hong Kong interest rate swap markets (hereinafter referred to as "Swap Connect") was officially launched and put into operation; On April 26th, the Argentine government announced that it would use RMB to settle trade in imported goods from China... With the growth of China's economy and the improvement of its openness, the international currency functions of RMB, such as cross-border payments, investment and financing, reserves, and pricing, have been comprehensively enhanced, and the "international circle of friends" has become increasingly large. The head of the relevant department stated that in the future, we will further improve the basic system of RMB cross-border investment and financing transaction settlement, improve the openness and access of China's foreign exchange and financial markets, and continue to promote the internationalization of the RMB in an orderly manner. The "Swap Connect" brings new choices - China's interbank bond market continues to increase its opening to the outside world, achieving 162 RMB interest rate swap transactions with a total nominal principal of 8.259 billion RMB. On May 15th, the "Swap Connect" launched its first day, attracting nearly 50 domestic and foreign institutions to participate in the transactions, covering various types of foreign investors such as foreign banks and securities firms. As one of the first batch of bidders, We clearly feel the heat of the market, "said Xu Zhaoting, Global Emerging Markets China Trading Director of Deutsche Bank." The first day trading volume was very active, with onshore market makers actively quoting and foreign investors actively participating. Data such as transaction amount, volume, and frequency fully reflect the welcome and recognition of 'Swap Connect' by overseas investors It refers to the mechanism arrangement for domestic and foreign investors to participate in the Hong Kong financial derivatives market and the mainland interbank financial derivatives market through the connection between Hong Kong and mainland infrastructure institutions. According to this mechanism arrangement, investors can conveniently complete RMB interest rate swap transactions and centralized clearing without changing their trading habits and effectively complying with the laws and regulations of the two markets. In the initial stage, the "North Swap Connect" was first opened, allowing foreign investors from Hong Kong and other countries and regions to participate in the mainland interbank financial derivatives market through infrastructure connectivity between Hong Kong and the mainland. In recent years, China's interbank bond market has been continuously opening up to the outside world, attracting more and more foreign investors to participate. The latest data shows that as of the end of April this year, the number of overseas institutions entering the interbank market has increased to 1084, covering over 60 countries and regions; Overseas institutions hold interbank market bonds worth 3.17 trillion yuan. As overseas investors expand their bond holdings and increase their trading activity, their demand for using derivatives to manage interest rate risk continues to increase. The 'Swap Connect' further enriches the RMB asset ecosystem, supports the use of offshore RMB investment in the onshore interest rate swap market, brings new choices to investors, and will promote a larger and sustainable process of RMB internationalization, enhancing the position of the RMB in the global market. Less than a week after the launch of "Swap Connect", there is another new news about the internationalization of the RMB: on May 19th, Hong Kong transactions