A Study On The Influencing Factors Of The Cross-border Trade RMB Settlement

China is the world's second largest economy, in recent years, the development of our country's international trade is very quickly, and the volume of our country's import and export trade is huge. For a long time, China's import and export trade mostly choose in trading nation's currency as payment and settlement currency, rarely denominated in RMB as the settlement currency. In the currency of the strengthen of the financial market volatility and deepen under the trend of internationalization, steady and orderly promote the progress of cross-border yuan trade settlement is imperative. Since July 2009 China launched a pilot project of the cross-border yuan trade settlement, China's cross-border yuan trade settlement amount has increased by more than 50 times. The development of the cross-border yuan trade settlement, is not only beneficial to avoid interest rate risk and exchange rate risk of enterprises, promote the facilitation of trade, but also can expand the level of recognition in the international market, becoming an important part in the process of RMB internationalization. This article is wrote from the perspective of cross-border trade settlement influence factors, to find the key factors affecting cross-border yuan trade settlement, and then put forward countermeasures and suggestions. It is of is of great significance to constantly find and fix problems in the development of cross-border yuan trade settlement, to accelerate the development of financial markets and the internationalism of the RMB.This paper firstly combed the relevant theories of currency internationalization and cross-border yuan trade settlement, make literature review of the related concepts, the pros and cons and influence factors of cross-border yuan trade settlement. Secondly, in this article, there is a systematic analysis of the influence factors of cross-border yuan trade settlement, and has carried on the empirical test, a VAR model is established to prove the cross-border yuan trade settlement amount and cross-border trade RMB amount, trade scale, the real effective exchange rate, interest rate carry a co integration relationship, then through the impulse response function calculates the response of cross-border yuan trade settlement amount to each shock response. By using the ECM model to obtain the specific long-term equations are obtained. Finally, this paper draw lessons from the related experience in cross-border trade settlement of dollar, euro and Japanese yen. According to the influence factors for cross-border yuan trade settlement and related disorders, put forward the corresponding policy recommendations as follows:In improving China's economic strength at the same time, it need to develop the financial market, gradually improve the RMB interest rate, exchange rate formation mechanism, and constantly improve cross-border payment and settlement system, and constantly strengthen financial supervision and regulation.