Research On RMB Settlement Of Cross-border Trade In Hebei Province Under The Global Economic And Trade Conditions

Since the global financial crisis in 2008,the global economic and trade pattern is undergoing changes,the markets of emerging countries are becoming increasingly prosperous,the markets of developed countries are lacking in vitality,and the contradiction between economic globalization and trade protectionism is increasingly prominent.This is the result of foreign trade and economic development in emerging market countries.The huge impact and the promotion of cross-border trade settlement in the local currency have become an important means of resolving the risks of emerging market countries.China’s promotion of cross-border trade in RMB settlement is an inevitable choice for adapting to the global economic and trade development.For Hebei Province,which has been given a new strategic position,it is particularly important to further promote local currency settlement.In August 2011,Hebei Province officially launched RMB settlement of cross-border trade.In recent years,the introduction of the Beijing-Tianj in-Hebei coordinated development strategy,the construction of the Hebei Xiong’An New District,and the cross-border e-commerce comprehensive pilot zone have led to the gradual upgrading of Hebei’s new strategic position.Therefore,in the context of economic and trade changes,further exploration of the settlement of cross-border trade in Hebei Province is an extremely important issue,which is of great significance for promoting regional foreign trade and economic development.This paper is studying at the following steps:"background analysis-theoretical research-analysis of problems-suggestions".Firstly,this paper takes the currency substitution,the optimal currency area and the currency pricing as the theoretical basis of the research.It analyzes the global economic and trade conditions.Although some developed countries have a tendency of trade protectionism,economic globalization is still irreversible.The RMB internationalization and cross-border trade RMB settlement is a necessary means to cope with external changes and promote the sustained and stable development of China’s economy.Secondly,this paper compares the relevant data of Hebei Province horizontally and vertically,and analyzes the current status of development,influencing factors and existing problems of cross-border settlement of foreign trade in Hebei Province.Finally,in the context of the global economic and trade transformation,combined with the actual situation of Hebei Province,the countermeasures and suggestions for promoting the settlement of cross-border trade in RMB were put forward.Hebei Province should be highly stationed,take the national development strategy and policy opportunities,make full use of advantageous resources,and carry out cross-border trade RMB settlement through various channels to realize the two-way development of cross-border trade scale and quality in Hebei Province,and narrow down the economic gap with Beijing and Tianjin.Promoting cross-border trade RMB settlement can improve the economic integration of Beijing-Tianjin-Hebei and the construction of the Xiong’an New District in Hebei.This is a necessary measure for the regional settlement of cross-border trade in RMB to bring the overall cross-border trade in RMB settlement into a new stage of development.It is not only providing a broader trading platform for the RMB to become a cross-border trade settlement currency,but also promoting the Chinese economy to achieve rapid development.And it is an inevitable choice to occupy a place in the world economic and trade arena.