The Impact Of RMB 's Entry Into SDR On China' S Financial Reform

November 30,2015, The International Monetary Fund (IMF) announced RMB being accepted as one of SDR basket currencies, the effective date is October 1,2016. SDR is an international reserve asset created for the balance of international payments by IMF. The acceptance of RMB means China’s financial reform is recognized by the international community. Thereby RMB obtains credit endorsement of The International Monetary Fund, which gives China the right of further integration into the international economic and financial systems, the ability to get deeply involved in the governance of the international monetary systems. Being one of SDR currencies helps resolve these imbalances which exist in RMB internationalization. It will promote the internationalization of the RMB too. In the long run, the influence of RMB being one of SDR can be referred as follows:capital market opening to the world, the market-oriented interest rate reform, the improvement of the market interest rate benchmark, the transmission of mechanism of monetary policy, the reconstruction of exchange rate mechanism, the change of monetary policy framework. Joining the SDR can make these reforms irreversible and enhance policy credibility. But we cannot ignore the risks that joining SDR brings. These risks include:China will face "trilemma" difficult choices and "Triffin" problems.The problems need to be considered in the implementation of policies. In addition, China can learn from United States, Britain, Japan in pursuing the internationalization of RMB. The benefits of it can enhance the share of RMB in the SDR.In return, Improvement of the share of SDR helps smooth progress of internationalization of the RMB. The process can form a good feedbacks.; China should carry out reform of the real economy, to enhance the international status of China; to continue to play our role in trading power, help to enhance the international status of the yuan; orderly financial system.