Research On Cross - Border Renminbi Business And RMB Offshore Market Development

In2009, China launched the pilot RMB settlement of cross-border trade business, it is important to start the internationalization of rmb currency. Since then, the business has made considerable progress, and promote the RMB off-shore market construction in Hong Kong. In view of these facts, the author focus to the cross-border RMB business and Hong Kong RMB off-shore market, and use the combination of theory and practice to put forward the countermeasure of commercial banks. First of all, the author make a summary of the development of the cross-border RMB business and the Hong Kong offshore market, and analyzes its development course, cause, relevant policies and constraints. Secondly, the author analyzes the challenges from the RMB business to the current domestic financial environment, and researches its next development. Finally, the author proposed the commercial bank should take positive measures to cope with the cross-border RMB business and RMB off-shore market development, and puts forward concrete countermeasures and suggestions to Bank of Communications as a representative of Chinese commercial banks.