The Cross-border Circulation Of RMB And International Of RMB

Recent yesrs, RMB circulate on the world market.Thanks to our country’s comprehensive national power on rising and the stablized value of RMB.Particularly with neighboring countries and peripheral regions,RMB has been more and more broadly agreed and accepted in countries’exchange.A lot of RMB circulate outside China is the result of market choose,which demostrates that RMB has already started the internationalization process.By estimating the amount of RMB circulating outside China,and then evaluate the degree of RMB internationalization.Analyzing the influences of RMB circulation outside China have implications for promoting the proscess of RMB internationalization.Takeing a lot of reseach results at abroad and home as refernces,and adopting empirical and theoretical analysis together,this article is dicided into three parts to analyzing RMB circulate outside China and RMB internationalization.The fist part analyzing the principle of RMB internationalization and the present situation of RMB circulate outside China.Draw a conclusion that RMB has already achieved fiducial periphry and have the basis for territoriazation,but there is still one section of very long road to leave where RMB internationalization has come true. The second part through the result of the estimate the amount of RMB circulating outside China,comprehensive analysis the present cross-border circulation of RMB,and then sets up the currency internationalization index,which demostrate that after July2005RMB circulating outside China continues to increase,thanks to the influence of exchange rate system reform and international ecomomic situation.In the latter half of2008RMB circulating outside China has decrease on because of global financial crisis.By the slowly-increading global economy in2009and the RMB have kept stable during the global financial crisis,after the second quarter of2009,the circulation of RMB has enlarged and keeping a stable,high-speed growth.But it is still non-international currency. The third part analyzing the influences of RMB circulating outside China. finanlly,in order to promoting RMB to circulate outside China,accelerate the RMB internationalization process presents three countermeasures:Firstly,treatment of RMB’s illigitimate circulate and strengthen corss-border circulation of RMB’s monitor.Secondly, an offshore financial center can be set uo in Hong Kong.Thirdly, Thirdly, through enlarge the RMB cross-border trade settlement, steady promote RMB internationalization.