The Accelerated Internationalization Of The RMB And The Deepening Financial Reform In China

The internationalization of the RMB has begun to accelerate development since2010, characterized by the sharp increase in the amount of RMB trade settlement busi ness and accelerated expanding in worldwide of offshore RMB market. A perfect fina ncial system and mature and with depth of financial market conditions is needed in ou r country to support the internationalization of the RMB. In this way, a China’s financi al deep reform is more and more being expected. This paper is discussed how to deep en China’s foreign financial reform. It is undoubtedly that deepen our foreign financial reform play a powerful role on the internationalization of RMB.This paper summarize, classify and research based on previous research results i n the internationalization of RMB and foreign financial deepening reform. Furthermor e, it summarized new progress in seven aspects of accelerated internationalization of t he RMB and new requirements in eight aspects, putting forward on foreign financial r eform. At last some original opinions and suggestions is mentioned on financial the be nchmark price, the opening of the capital account, offshore and onshore market etc..Financial shocks will happen if the RMB internationalization and China’s foreign financial reform is not synchronized or coordinated with each other. This paper argue s that, nowadays China’s capital account has been wildly opened, which is basically a dapt to China’s current situation. China should slow the pace of capital account liberal ization to win time for marketization of exchange rate and interest rate, the offshore m arket and other aspects of foreign financial deepening reform.