An Empirical Study On The Influencing Factors Of RMB Settlement In Cross-border Trade

Cross-border trade RMB settlement business since July 2009 has been introduced, has made rapid development. In many favorable factors, China's cross-border trade RMB settlement business to the rapid development of the process of internationalization of the RMB is accelerating and advancing. Especially in recent years, China's economic development has made great achievements, became the world's second largest economy, the total import and export ranking in the world, China in the global economy has a pivotal position. However, although China's total import and export volume ranked first in the world, but in the settlement of international trade in the dollar, the euro and other currency settlement still dominate the RMB in the international money market is still in a weak position, and the dollar, euro and other international currencies are still very Big gap, but also to a certain extent, is not conducive to the stable development of China's foreign trade. For the time being, the circulation of RMB outside the country concentrated in the surrounding areas, but this does not mean that the RMB has been internationalized. In the international trade with Europe and the United States is still in the United States, the euro and other traditional strong currency settlement, the RMB settlement in the cross-border trade in the utilization rate is not high, which seriously affected the pace of internationalization of the RMB.Therefore, it is very important to study the influencing factors of cross-border trade RMB settlement, which will greatly benefit the internationalization of RMB. In this paper, principal component analysis of the impact of China's cross-border trade on the RMB trade factors, and then the RMB settlement of cross-border trade and its impact factor regression, and found that the inflation rate does not use China's cross-border trade settlement of RMB, While the scale of trade, national foreign exchange reserves, bank settlement and banking sales, the development of financial markets, the international economic situation with the good development of China's cross-border trade RMB settlement is positive; In addition, "RMB was incorporated into the SDR currency basket decision "Policy to improve the settlement of cross-border trade of RMB. Finally draws the conclusion, and then puts forward the related policy suggestion.