The Constraints Of The Rmb Cross-border Settlement And Promote The Strategy Of Research

With the development of economic in China, the improvement of participation in global trade and the extent of international cooperation, RMB is getting many concerns from all related parties in world, the Internationalization of RMB has frequent went into the theoretical study and information in various horizon. In particular, the outbreak of the global financial crisis, the current international monetary system exposed the inherent defects, the internationalization of RMB become a hot topic again.From the process of internationalization of the pound, dollar, euro, yen and other currencies, all internationalizations have been a long and tortuous processes, the process of internationalization of RMB can not get rid of it, the path from the RMB settlement money-investing money-the reserve currency, is overviewed the inevitable path of RMB internationalization.RMB cross-border settlement, is of great practical significance for the regional economic development and promotion between China and neighboring countries, to avoid foreign exchange risk and improve our trade terms in trading with other non-dollar countries, it can promote the steady growth of China's foreign trade as well. Meanwhile cross-border settlement of RMB marks the expansion of border trade from border trade to normal trade, with very important historical significance.Since the pilot of running, we found that quite a lot of cross-border settlement issues and numbers of challenges emerged, all of the communities of cross-border participation in the RMB settlement are plagued by how to understand and solve these problems. This paper is combined by the theories of monetary settlement and monetary competition, ordered the basic requirements in conditions of international settlement, pointed out how much requirements have been satisfied the initial conditions of the RMB, went through the general practice at cross-border settlement in cross-border trade and cross-national trade, analyzed the constraints in the process of cross-border settlement.This paper analyzed that as Chinese enterprises without of the right to choose settlement currency because under the lowest level in international work division, export product high substitutability and the majority of enterprises subject to strong foreign investment and other factors, and the inertia of currency settlement and level of development of domestic financial, all the constraints will limit the speed of cross-border settlement, referred to the experiences arid lessons of current international monetary in settlement, the paper made several suggestions with the Government, banks and enterprises sights to improve the cross-border settlement of RMB, from the macro point, the necessary to keep the economic growth, currency stability by government and the urgency of the promotion of our position in international work division and the development of financial markets and from the micro point, the strategy and tactics starting from the expansion of pilot program, the remove of artificial restrictions and the enhance of departments'communication and coordination by government, banks can open RMB Cross-border clearing bank account, strengthen their capacity building, industrial cooperation and international exchanges, and the establish the unity RMB settlement network with the international demand, foreign trade enterprises should take the initiative to understand the cross-border settlement of RMB business, communicate with trading partners actively, set up branches abroad in order if possible, to increase the possibility of RMB cross-border settlement forward.