A Study On The Impact Of RMB Settlement On RMB Internationalization In Cross - Border Trade

In the current era where economic globalization progresses rapidly, the internationalization of RMB is of important significance to China’s economic development. Once RMB becomes international currency, it will not only bring enormous economic benefits to China, but also increase China’s influence and right of speech in international affairs, thereby promptly enhancing China’s international status.First of all, this article in recent years about the internationalisation of the renminbi and cross-border yuan trade settlement of the relevant literature, the research introduces the present situation of the cross-border yuan trade settlement business, as well as the current situation of the development of the internationalization of the yuan, on the basis of the impact on cross-border yuan trade settlement on the internationalisation of the renminbi has carried on the qualitative analysis, this paper mainly in(1) cross-border yuan trade settlement influence on China’s foreign trade market, including promoting the increase of import and export trade and the influence of the macro economic environment of our country foreign trade;(2) the denominated in RMB for the promotion of international reserve functions including the influence of the increase of the overseas stock and promote the development of renminbi bond business;(3) the effect on the trading of the yuan on foreign exchanges, including promoting the increase of China’s foreign exchange transactions and influence on foreign exchange control policies.The article using the unit root test and granger causality test to study the cross-border yuan trade settlement influence on the internationalisation of the renminbi, including cross-border yuan trade settlement the empirical analysis of the impact of China’s foreign trade, empirical research and cross-border yuan trade settlement on the yuan to study the impacts of international reserve function; Finally studied the factors affecting the development of cross-border yuan trade settlement business. Through empirical shows that the cross-border yuan trade settlement business smoothly has a positive influence on the internationalization of RMB, and thus put forward from the following five aspects to promote cross-border trade RMB settlement business smoothly to carry out the policy suggestion.