The Research Of The Internationalization Of RMB In Post-Financial Crisis Era

Since the2008financial crisis, the world economy suffered heavy losses, until today its influence not only failed in the past, but there is also a deeper issue Greece debt crisis, the U.S. dollar, the world is awash with liquidity. Scholars from various countries in the so-called post-crisis era, and economists are summing up experience, to reflect on the crisis, the U.S. financial regulatory authorities, dereliction of duty and excessive derivative financial credit model has been criticized. In addition, many scholars have suggested that at this stage the dollar-centered international monetary system, there is a huge hidden. The international monetary system after the collapse of the Bretton Woods system led to the dollar dollars a dominant monetary system, the absence of a strict regulatory regime, so that the global economy is very fragile. Reform of the international monetary system, through the strengthening of the international monetary cooperation has increasingly become the consensus of the world to rebuild a new international monetary order. In2009, China became the world’s first exporter RMB as a settlement currency, the currency of payment has also been in some countries and regions, heavy use, and the ability to freely convertible currency with these countries, the RMB has taken the country, in the part of other economies to perform some of the functions of the International Monetary doubled the renminbi confidence.At the same time, the financial tsunami, the renminbi, is a rare opportunity. Europe and the United States financial system in the current round of financial crisis, which was hit. Of Twenty meeting in2009, the leaders of most countries, especially the emerging national leaders have called for reform of the current international monetary system. The financial tsunami, China’s financial system remains relatively robust and safe from the financial crisis, countries around the world, out of the woods made a huge contribution to the yuan’s international status and regional influence also been greatly improved for RMB provides a rare historical opportunity to accelerate the process of internationalization. Precisely machine based on the historical background, this paper attempts from the theoretical analysis and empirical research and analysis of the RMB internationalization strategy in the context of the financial crisis, risk response, the impact on the domestic economy, and learn from the successful experience of other currencies, international. Structural change point of the RMB exchange rate sequence introduced by way of dummy variables to the regression equation, and structural change point and change point moments corresponding event linked to explain the reason for the change point generated using autoregressive The conditional heteroskedasticity to estimate the residual series has achieved significant results, through the analysis, the main conclusions in this paper are as follows:People’s Bank of China has taken strict measures in the financial crisis, resulting in very fixed exchange rate of RMB against the U.S. dollar; Chinese people Bank to implement the measures of the internationalization of the RMB will significantly affect the exchange rate of the RMB against the U.S. dollar; Once the People’s Bank of China to relax the yuan Management, the volatility of the RMB will gradually increase.The chapter one of this article introduced some theories and views of international currency and RMB internationalization, analysed the U.S. dollar, euro, yen three monetary international history experience and lessons learned, and summarized the conditions required of the internationalization of the RMB. The part two analysed the benefits and costs of the internationalization of the RMB, tested the risk of the internationalization of the RMB form the exchange rate angle. Finally it have the conclusion and put forward the recommendations of the five-step strategic steps to go.