Research On The Commercial Bank’s Transnational Operation Strategy In The Process Of RMB Internationalization

China has scored remarkable achievement since its successful launch of cross-border trade RMB settlement business pilot since 2009 and the rapid progress internationalization of the RMB.The 13 th Five-Year Plan for National Economic and Social Development of the People’s Republic of China clearly states,"The objective is to orderly realize RMB capital account convertible,to improve convertibility and free use,to steadily promote the internationalization of RMB and advance the capital of RMB going out." The internationalization of the RMB is not only a milestone in the process of China’s economic globalization,but also of substantive significance for the reform of the international financial system.China’s commercial banks,as the main body of financial markets and the currency circulation intermediary,has an irreplaceable role in the process of internationalization of the RMB.Seizing the strategic opportunity of RMB internationalization is the only way for commercial banks to cope with the fierce competition in the country and enhance the international competitiveness and make great progress.Based on the theory of monetary substitution,financial deepening and optimal currency area,this paper explains the inevitability of commercial banks’ transnational operation under the background of internationalization of RMB and the relationship between the two,laying a theoretical foundation for this paper.And then on the basis of studying the current situation of multinational operation of commercial banks under the background of internationalization of RMB,it objectively analyzes the characteristics of transnational operation of commercial banks under the background of internationalization of RMB.Next,the author analyzes the advantages and disadvantages,opportunities and threats of the current commercial banks in China,and believes that the internationalization of the RMB provides the primary channel for the transnational operation of the commercial banks of China,which is helpful to the internationalization of their business structure,and improve their own competitiveness.In addition,China’s commercial banks in the international context of RMB cross-border business have existed only for a short time,and lack practical experience.However,banks of the United States and Japan under background of internationalization of the dollar and the yen have accumulated extensive cross-border business experience by researching on the dollar,the yen in the process of international cross-border banking practice.Thus it can be clearly seen from them that how the cross-border operation of the banks and the currency internationalization can be coordinated and developed hand in hand,offering experience and reference for commercial banks in China under the background of internationalization of the RMB,and can also be seen that how the competitiveness of banks in the United States and Japan is forged in transnational business,so that Chinese banks can operate business in a more targeted direction.In the end,strategic proposals are offered for the transnational operation of commercial banks in the context of internationalization of the RMB.First,in terms of regional strategy,going out efforts need to be strengthened and a global service network built;second,as to business strategy,while strengthening the basic business,business innovation should be paid close attention at the same time;Third,for operation strategy,internal and external linkage enhancement and group integration development need to be promoted;forth,as to risk management strategy,the risk control system should be improved,and risk management be strengthened.