Empirical Research Of The Degree Of RMB Internationalization And Its Influencing Factors

In recent years,China's economic strength has maintained a strong upgrade in the world's economic growth among the best,the RMB as China's domestic currency,due to the strong promotion of China's economy in the international monetary system within the status of continuous improvement,RMB in the world monetary system gradually cut a striking figure,the internationalization of the renminbi has become a major problem in the study of scholars around the world,it can be said that China's economic development has created the RMB in the international monetary system to enhance the status.Under the current economic environment,the renminbi has been used as a trading medium for the residents of neighboring countries.At the same time,people use RMB as a means of international liquidation in international trade,and the bilateral currency exchange with China is also expanding,RMB internationalization set off an irresistible trend,the internationalization of the RMB process also urged us to continue to take measures and methods to accurately determine the degree of internationalization of the RMB.This paper also points out that some scholars at home and abroad have studied the internationalization of RMB,some of which focus on measuring from the unilateral aspects of individual indicators,and some of the literature gives the same weight weighted average of multiple indicators.The next research focus should be on the different indicators to give different weights to measure the degree of internationalization of the currency.The research of this paper is mainly based on the current theory of currency internationalization statistics proposed by the current scholars,and introduces the development process of the currency in the international international currency,such as the dollar,the pound and the yen,and so on.They are analyzed on the basis of empirical research and qualitative analysis.This paper summarizes the important factors that affect the internationalization of the currency and the internationalization of the RMB.After research,this paper summarizes the following elements:the level of economic development,the stability of the currency,whether the financial market is open and whether it is developed or not.Characteristics and political environment at home and abroad.By studying the relevant literatures in recent years and studying the relevant argumentation of famous scholars both at home and abroad,the author studies the method of using the index matrix.The main path of the study is to construct the comprehensive index and define the concept of relevant indicatorsAnd in the study of the RMB internationalization process of the relevant applications.In this paper,principal component analysis(PCA)is used to analyze and deal with the relevant factors influencing the internationalization of currency.The weight of the relevant influencing factors is assigned and a comprehensive index index is constructed.The general index can be roughly reflected by the composite index.The degree of internationalization,through the study of the comprehensive indicators we can understand the impact of the internationalization of the RMB variables and the impact of these variables on the degree of internationalization of the RMB,and by studying the previous years of the comprehensive indicators,we can RMB Internationalization of the trend of the study.At the same time,the accuracy of the selected method is evaluated by comparing the trend of RMB internationalization with the selected method and the trend of RMB internationalization of Renminbi internationalization report of Renmin University of China.At the same time,this paper also uses the multiple linear regression model to study the influence of the main influencing factors on the internationalization index of RMB.The main factors influencing the internationalization of RMB are the proportion of GDP,Financial deepening degree.Finally,we have put forward some constructive suggestions to a certain extent to deal with and solve the corresponding problems and impact.