Theoretical And Empirical Study On Cross-border Rmb Trade Settlement In Guangdong

The cross-border RMB trade settlement implies that RMB formally become settlement currency and it also implies a great harvest of RMB internationalization in the Chinese financial history. On July 7th in 2009 Guangdong Branch of Bank of China transacted the first operation on cross-border RMB trade settlement for Guangdong Silk-Tex Group Co.,Ltd, which indicated the setting out of the cross-border RMB trade settlement between Hong Kong, Macao, the Association of Southeast Asian Nations and Guangdong. However due to various factors the actual cross-border RMB trade settlement magnitude is not optimistic in Guangdong since the beginning. So getting a clear understanding of the advantages and future of the cross-border RMB trade settlement in Guangdong and selecting some countermeasures which suits to the provincial situation in order to promote the construction of powerful foreign trade province and powerful financial province are the rigorous and urgent tasks which we must confront. Those are also the research purposes of this dissertation.First this dissertation briefly comments on the research background and content. Secondly through the general summing-up of the new main theory on settlement currency selection in the foreign trade and literature about the cross-border RMB trade settlement it points out the key traits and shortages of the existing study. Thirdly it comprehensively analyses the advantages, status quo and main problems of the cross-border RMB trade settlement in Guangdong and forecasts the approximate settlement size through constituting a simple regressive model and using the Yen's internationalization case for reference, which concludes that the size of cross-border RMB trade settlement in Guangdong can be 80 billions size or 100 billions size if including trade settlement in services, non-trade settlement and investment settlement, and to 2015 can be 1400 billions size. Finally in order to push the development of cross-border RMB trade settlement in Guangdong it puts forward some countermeasures from three sides.In recent years domestic experts and scholars have made some researches on cross-border RMB trade settlement, they especially have made some systematic analyses in respect of the RMB internationalization and have made some achievements, but there have been few experiential analyses based on statistical data in respect of the cross-border RMB trade settlement of a large foreign-trade and finance province such as Guangdong. So this dissertation doesn't analyses elementary issues of cross-border RMB trade settlement, it puts emphasis on the basis of experiential analyses. I hope that this dissertation can provide a reliable basis in the future research of cross-border RMB trade settlement in Guangdong and clarify some ambiguous understandings of cross-border RMB trade settlement.