The Analysis And The Legislative Foresight Of The System Of The Cross-border Settlement With RMB From The Perspective Of The Draft Of Financial Reform Of China (Shanghai) Pilot Free Trad Zone

With the continuous improvement of comprehensive national strength, the degree of financial market integration in the global market also continues to deepen, the RMB in international economic and trade exchanges increasingly play a more important role. The first national test of free trade zone of Shanghai Pilot Free Trade Zone to set up the test in 2013 marks a new round of China’s reform and opening up started,The establishment of China(Shanghai) Pilot Free Trad Zone is our country realize the internationalisation of the RMB opportunity comes. As the basis and prerequisite for the internationalisation of the renminbi, build a cross-border RMB settlement system is very important. Establish and cross-border yuan settlement system of the legal system of form a complete set, not only is the foundation of settlement system safe operation, and is an important method of maintaining consumer confidence. Bring "The People’s Bank of China on the financial support of China(Shanghai) Pilot free trade zone construction of experimental observations" forward,legislation to protect our country for building cross-border RMB settlement system provides a guideline. Our legal problems when building cross-border RMB settlement system faces are: to build a lower payment system based on the legal hierarchy, the reality does not match the current needs of the operating rules of the central bank payment system and the RMB cross-border payments, the RMB cross-border settlement system dispute settlement mechanism has not been institutionalized and so on. By comparison of the legislative model of major international settlement currency national payment systems and operating rules, combined with the construction and the legal protection of international trade major settlement systems, legislative proposals for cross-border RMB settlement system builds.