China And The Central Asian Trade Rmb Settlement Of The Necessity And Feasibility Study

Three decades of reform and opening up, China from the closed-door policy toward globalization. Maintained a high GDP growth in the five years since 2003, maintained an average growth rate of 10.6%. The amount of imports and exports increased year by year, the world's important trade members. With the deepening openness, China's economic ties with the world economy more closely, all exchanges and cooperation continuously deepened. The RMB has been a degree of movement of the RMB offshore sedimentary volume increases each year. Regionalization of RMB and the international has become a hot issue.Along with China in economic growth, the RMB exchange rate system has also gone from a single fixed exchange rate to official exchange rate and market exchange rates co-exist in the dual exchange rate system, to a managed floating exchange rate system evolution. In 1994, China introduced the official exchange rate of RMB and foreign exchange swap market exchange rates, creating a single market-based, managed floating exchange rate system; July 21, 2005, approved by the State Council, China began to implement a supply and demand based on the reference basket of currencies to adjust, managed floating exchange rate system, so that the RMB exchange rate formation more market-oriented, value tends to be more stable. And by the U.S. sub-prime crisis caused by the global financial crisis, making degrees of believing around the world against the U.S. dollar fell, increasing the risk of holding U.S. dollars, this provide platform to RMB world trade currency settlement easier to manage.As China and the Central Asian country's economic and trade development, the RMB circulation in Central Asia has become increasingly important, The implementation process of the internationalization of RMB, and the Central Asian countries to strengthen economic integration and economic development in Xinjiang has important practical significance.Follow the above ideas the article is divided into five parts: The first part of an overview of the RMB settlement of foreign trade; second part of trade between China and Central Asia, the necessity of settlement of RMB; third part of trade between China and Central Asia, the possibility of settlement of RMB; Trade between China and Central Asia, four-part of the problems facing the RMB; the fifth part of the trade settlement in RMB and Suggestions.