Bank Of China Cross-border Trade In Rmb Clearing Business Development Research

As economic situation of the world becoming complicated and the economy of China developed rapidly recent years, the economic pressures of China becoming heavily, the topic of the internationalization of RMB is increasingly become the focus of the world. As one of the largest trading unity in the world, China has the precondition for the internationalization of RMB. However, to achieve the aim of RMB's internationalization, there still a long way to go. Under this background, China carried out the RMB cross-border business pilot project to expand the clearing market. Since cross-border trade in RMB clearing, the settlement coverage abroad is expanding constantly. Along with the cancellation of restrictive RMB cross-border region, China's RMB backflow channels are also increasingly perfection. Based on this background, exploring cross-border trade in RMB clearing business development of Bank of China is more significant.This article will research the development status and background of cross-border trade RMB settlement business, and combined with the policy on RMB internationalization of China's policy, then conducting a comprehensive study of cross-border RMB business of Bank of China for the business size, product structure, market share, etc. This article first discuss some related concepts about cross-border trade RMB business in recent years, then go deep into the current situation and strategy of China's cross-border trade RMB business. Combing with the trading data and economic policies about China's cross-border trade RMB business, this article explores the development potential of BOC's cross-border trade RMB business. Also, according to the specific products and innovation of BOC, and associating to BOC's future strategy, this article draws corresponding conclusions. At the same time this article proposes more detail analysis and recommendations for the future cross-border RMB business development of Bank of China.