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The Belt and Road Initiative Summit taking place in Hong Kong on Wednesday and Thursday marks 13 years since the framework was launched. As the summit returns, I feel both continuity and renewed momentum. I attended early sessions when the initiative was still taking shape, and I have watched how the initiative has evolved alongside a rapidly changing global economy.

One of the most visible changes over the past decade has been the rising global stature of the renminbi. The renminbi is now a major currency in global trade and financing and plays a growing role in international payments. More importantly, currency diversification reduces systemic risk created by overreliance on a single dominant currency, offering investors, central banks and companies additional options for financing, reserve management and cross-border transactions.