[Zhu Min: A deep financial market denominated in RMB can reduce the uncertainty of Chinese enterprises’ global operations] On September 19, former Vice President of the International Monetary Fund (IMF) Zhu Min stated at the 2026 Tsinghua PBC Chief Economist Forum that the internationalization of the RMB will support the high-quality development of China’s economy through four major transmission mechanisms: First, the global resource allocation mechanism. A strong RMB enables China to allocate energy, raw materials, technology and capital globally in its own currency, reducing transaction costs and frictions in the mutual promotion of dual cycles. The second is the international pricing mechanism. The improvement of the RMB pricing function can enhance China’s pricing power in the trade of bulk commodities, key equipment and technology, and improve trade conditions. The third is the risk management mechanism. The deep financial market denominated in RMB can provide Chinese enterprises and financial institutions with hedging tools for exchange rate and interest rate risks, and reduce the uncertainty of global operations. The fourth is the security mechanism. The independent and controllable RMB cross-border network can provide bottom-line guarantee for China's economic and financial operations under extreme scenarios. (21 Finance)