Heilongjiang Province 's Choice Of Currency For Russian Trade Settlement

In this paper, according to the main factors in Heilongjiang Province and the Russian state of bilateral trade and economic situation and the impact of bilateral trade settlement currency options and bilateral trade settlement currency of choice, the use of Western economic theory, international trade theory, international finance, industrial economics theory a variety of theories about the theory and previous research had the theory of common trade settlement currency options to study in Heilongjiang Province to Russian trade settlement currency of choice. This article mainly qualitative analysis, quantitative analysis two methods for analysis. Which mainly uses quantitative analysis methods of comparative analysis and empirical analysis method. Heilongjiang Province to Russia trade settlement currency options include China’s RMB settlement, Russian rubles and third-party intermediary monetary settlement(usually in dollars, here in US dollars). Heilongjiang Province to Russia due to the current trade settlement currency remained mainly in third-party intermediaries currency- the US dollar to settle its trade settlement in US dollars accounted for still more than 75%, so, in Heilongjiang province is known mainly for the Russian trade settlement case studies dollar to settle down both the Chinese yuan and the Russian ruble settlement of national selection. The main factors affecting the decision to Russia in Heilongjiang Province trade settlement currency chosen to divide in two levels, one is a factor of trade between the two sides at the national level, the other factors that affect the level of trading parties themselves. Factors which affect the national level are: the country’s economic size(the total of a country’s GDP / total world GDP), the total domestic bank credit accounted for the proportion of its GDP(gross domestic bank credit of a country / national total GDP), inflation(using consumption ’price index CPI(2005 = 100) three-year average rate of change), changes in the magnitude of the exchange rate(using the real effective exchange rate(2005 = 100), the fluctuation range), domestic interest rates(using the scale of the real interest rate) and domestic financial markets(select stock market, as the research object, a country of total stock trading / the country’s GDP). Factor s bilateral trade levels are: market structure(export market), type of industry and exports cost of export products, export products produced in accordance with the opposite specific and the city of pricing power. According to the data of these two indicators of many factors to be under the level of empirical analysis of Heilongjiang Province to jointly select problems for Russia trade settlement currency and then the actual situation of bilateral trade settlement currency trade based on the results of empirical analysis, come to Russia in Heilongjiang Province trade settlement currency selection should choose which currency to be settled conclusion. According to the conclusion, and then explain the important role in promoting and under the influence of RMB set tlement of RMB internationalization, we conclude that the advice and recommendations based on the conclusions and hope that the other provinces of the trade settlement currency choose a certain model significance.