Study On The Problem Of Xinjiang RMB Cross-border Settlement

In 2007 the outbreak of the financial crisis impact on the dollar as the center of the international monetary system,many countries realize that the dollar dominated international monetary system risks,have to find a new way to reform the current monetary system,improve other international currency status.In recent years,with the strengthening of China's overall national strength and the expansion of the scale of foreign trade,the pace of internationalization of the RMB has gradually accelerated.RMB cross-border settlement as the first step in the internationalization of the RMB,the development rate has accelerated substantially,while the scale of development has also been expanding.Since June 2010,Xinjiang has been included in the second batch of RMB cross-border settlement pilot range,the RMB cross-border settlement in Xinjiang has always been actively advancing."This The Belt and Road" strategy has brought new opportunities and challenges to the development of Xinjiang cross-border RMB settlement.Xinjiang as China's opening to the west front and an important gateway to Xinjiang,cross-border RMB settlement to maintain a steady development,and constantly expand the market subject,increasing cross-border settlement of RMB settlement,enrich the variety of channels,the rapid growth of business scale,the service of the real economy can be further enhanced.But at present,there are still many problems in Xinjiang RMB cross-border settlement,and the recognition and willingness of the neighboring countries to improve the RMB will remain to be improved.Xinjiang cross-border RMB settlement in Xinjiang and even China's economy will play an important role,is conducive to reducing the international financial markets because of sharp shocks,the negative impact to China's economic stability,strengthen economic and trade relations between Chinese with neighboring countries and regions,to create a good space environment for Xinjiang and China's economy the development of.Based on the related theories of cross-border RMB settlement on the first through qualitative and quantitative analysis,the introduction of Xinjiang cross-border RMB settlement environment,and Xinjiang cross-border RMB settlement of cross-border RMB trade respectively from the status of Xinjiang and Xinjiang cross-border RMB settlement of cross-border RMB settlement in Xinjiang,the overall situation,analyze the current situation of investment and financing settlement.Then,by the combined method of standardized analysis and empirical analysis,find out the influence factors of Xinjiang cross-border RMB settlement,and then through the combination of various factors on the effect of Xinjiang empirical analysis of the influence of RMB cross-border settlement,mainly from the effect of financial factors,trade and other factors impact on Xinjiang cross-border RMB settlement and the reasons for in-depth analysis,so as to find out Xinjiang cross-border RMB settlement problems.Finally,combined with the analysis above,the paper puts forward some countermeasures and suggestions to promote the RMB cross-border settlement of RMB in Xinjiang from two aspects of Finance and trade.The conclusion of this study is:(1)the influence factors of Xinjiang cross-border RMB settlement are analyzed.Through the method of combining qualitative analysis and quantitative analysis,the development of financial market,monetary stability,economic strength and size on the foreign trade of Xinjiang cross-border RMB settlement has a positive effect,but the national currency inertia of Central Asian countries the negative and the foreign trade structure of the negative factors is not harmonious.(2)and then through the empirical analysis of the impact of various factors on the effect of Xinjiang cross-border RMB settlement,respectively from the three aspects of finance,trade and other factors to find out the factors of effect on Xinjiang cross-border RMB settlement and the reasons that the commodity structure of foreign trade in Xinjiang Xinjiang in the financial aspects of the domestic financial market and the supervision system is not mature,the degree of opening of the capital projects behind the cross-border RMB settlement and trade imbalances,Xinjiang's major trading port function failed to give full play to Central Asia and other aspects of the use of furniture dollars the inertia of these problems.(3)through a combination of Xinjiang's influence factor analysis and the factor analysis on the effect of Xinjiang cross-border RMB settlement effect,find out to advance the Xinjiang cross-border RMB settlement countermeasures and suggestions mainly have gradually liberalized the Xinjiang financial market,improve the RMB exchange rate formation mechanism;improve the RMB payment and settlement system,expand offshore renminbi return channels;strengthen the prevention and control of risk.The flow of RMB cross-border supervision;promote banks to Central Asia,promote cross-border RMB settlement;the construction of Xinjiang port financial services base,improve the RMB cross-border settlement quality;optimization of Xinjiang import and export trade structure,strive for currency option;to improve the development of Xinjiang's foreign trade environment,enhance China's influence in neighboring countries.