RMB Cross-border Settlement Study Based On The Currency Of International Angle

The outbreak of the global financial crisis and the European debt crisis has had a negativeinfluence to our country; RMB was noted again both at home and abroad. This is because the use ofRMB in China’s international trade can greatly reduce the exchange rate risk.More important is thatwe can call for RMB internationalization strategy for the actual implementation. The value of RMBremained stable which meet the basic conditions of international settlement currency. Therefore, theChinese government proposed to implement RMB cross-border settlement. A series of policies andmeasures have been introduced since the pilot began in July,2009.And China’s commercial banksand many enterprises have actively participated in this business, which has made goodachievements to RMB cross-border settlement. Despite the positive outlook, we still face manyproblems and need to think about how to continue to advance.The beginning of this article explains the concept of the RMB cross-border settlement, andthen posts the course of development and the quo in detail and points out its problems accordingly.Then, the article points out the challenges in system management, risk management, asset liabilitymanagement and international business management by choosing the six commercial banks inChina as the representative. Again, the article analyzes the deep-level constraints, Such as thedevelopment of financial markets is insufficient、RMB circulation channels are not smooth and thecurrent regulatory system is not perfect and so. Finally, aiming at the problems and restrictingfactors above, the paper presents relatively suggestions from three angles of the country, banks andenterprises.