Research On The Payment And Settlement Mechanism Of RMB Cross-border Trade Between China And Mongolia

Lately,as the fast development of economy and the gradual improvement of opening up grade in China,the international status of RMB are rising increasingly,especially in the process of tackling the global financial crisis,the stability and sustainability of monetary policy have been recognized around the world and has achieved favorable impacts.Since 2009,the RMB settlement of cross-border pilot projects have being implemented gradually which helped more widely use of the RMB in which countries and regions border on China,the process of internationalization is gradually expedite.In recent years,trade,investment,and personnel exchange between Mongolia and Inner Mongolia has developed rapidly,and the port economic has been prosperous.With the increasing of bilateral cross-border payments,building cross-border payment and settlement mechanism of the RMB has been particularly important,as basic infrastructure building of bilateral trade and financial transactions.The article point out the main problems of the current,probe into the choice of cross-border clearing and settlement route of RMB and propose to improve the RMB cross-border payment and settlement mechanism through investigation and analysis of policy framework,account management,payment instruments,payment and settlement methods,credit environment and so on of the mechanism of the RMB settlement of cross-border trade.