Study On Renminbi Internationalization

Internationalization of RMB has been discussed for many years in China,RMB to go abroad as an international currency is the wish of many citizens. In recent years, along with China's rapid economic development and the improvement of the comprehensive national strength, internationalization of RMB began to take substantial steps. The global financial crisis in 2008 make the international community fully recognized the drawbacks of over-reliance on U.S. dollars,so the global monetary system reform is ever mentioned. China adopted a more practical attitude, from signing a series of bilateral currency swap agreements with neighboring countries, to cross-border yuan trade settlement deals expansion, all of which are regarded as the stage sign of China's RMB internationalization strategy.The process of the currency internationalization is comprehensive and will affect both macro economy and micro policy system.It can not achieved overnight,as US dollar,it lasted more than half a century from US economic strength ranked first globally to establishing dollar as the global leading currency. To renminbi, how to deliberately choose and grasp the favorable opportunity, gradually advance RMB regionalization and internationalization is still to be an urgent major issue.In the content arrangement, the paper starts from the general theory of international currencies, defining the meaning and basic features of them,and take sterling,dollar, mark and yen as examples.introduced the international currency evolution mode and discussed their common sense,like these countries all have powerful economic strength,developed financial market and stable currency value. Then, this paper try to constructs a macroeconomic model which is used to analyze the influence factors of monetary internationalization level.On the basis of it,the paper analyzed the RMB relevant problems from domestic,regionally,globally degree,like advantages and weakness, opportunities and threats.RMB is ready in basic conditions for internationalization,but it still has some constraints.RMB regionalization has made a great progress,and we should put forward it continually.Finally the paper put forward the concrete path and related measures on the economic development and through improving institutions to construct a sound,developed financial markets.Renminbi internationalization is committed to solve the problem of our currency status does not match our economic status in the world,and make RMB as the international currency that fit with China's economic strength. Therefore, the process should be on the basis of ensuring the healthy operation of our economy, and be advanced objectively, pragmatically, prudently.