Estimating The Size Of Overseas RMB Circulation

In recent years, with the RMB began to circulate abroad, and its circulation size and scope of circulation, on the whole expanding offshore RMB circulation is around RMB countries and regions for highly trusted performance, but also economic development and expanding foreign trade results.The scope of the cross-border flow of RMB has gradually expanded from Hong Kong, Macao and Taiwan regions and neighboring countries into the world. In addition to the Asian region,but also in circulation to Europe, America, Africa and Oceania and other countries.The flow of RMB cross-border trade, not only in our country,cross-border investment, financial markets major,will have an impact on China’s monetary policy and macroeconomic performance.The cross-border flow of RMB market is the result of choice, but also to promote the process of internationalization of the RMB an essential step in the estimated size of the cross-border flow of RMB, RMB cross-border circulation study the causes and effects, to guarantee stability of the active development and further promote the internationalization of the renminbi has important significance.In this paper, by drawing on other relevant research at home and abroad, it is divided into five parts of Overseas Circulation scale to do the research. The first part of this paper is the background and significance of Overseas Circulation study, literature review, research and innovation and lack of circulation of RMB outside of this article aspects exist. The second part is related to the promotion of Overseas Circulation reasons, including China’s economic development in recent years and the implementation of policy factors. The third part is an estimate of RMB liquidity outside, including offshore RMB circulation of RMB under the direct estimation method estimates the liquidity environment and indirect estimation methods of estimation, the indirect method by using the relevant economic variables empirical analysis, the the overseas circulation scale from 1998 to 2014, and also compared the results of estimates of RMB liquidity outside both methods were introduced and, where applicable, the advantages and disadvantages of two estimation methods. The fourth part is the Overseas Circulation for the positive aspects of the impact and the impact of negative aspects. Mainly introduced for China’s monetary policy, seigniorage and regulatory implications. The fifth part is based on the corresponding impact analysis and conclusions drawn from the analysis of the above and related recommendations to address these issues raised.