Research On Supervision Of Cross-border RMB Settlement Business

Recently,with the truth that China has replaced Japan being the second economic entity around the world because of the growth of economy,the globalization of RMB is gradually becoming a new trend of economic development.However,it is hard to shake the monopolistic status of USD being the international settlement currency because most of the countries in the world overlook RMB.So it is full of obstacles of achieving globalization of RMB.Other countries only realized it was too risky if they over relied on USD until the global financial crisis happened in 2008 during which RMB still stabilized its currency value in the international money market.As a result,the expectation of RMB grew increasingly.With this tendency,China has sped up the pace of globalization of RMB by setting cross-border RMB settlement business pilot city and enterprises and and the business area expanded to nationwide.Although the amount of cross-border settlement has been increasing in recent years,more and more commercial banks are also providing cross-border settlement service which is more and more influential and they play an important role.With the variety of cross-border settlement services,improving from service trade projects to invest the trade under capital accounts,the risk is appearing.This requires our government supervision department to do more to avoid a significant inburst of international hot money and to perfect the relative laws and regulations and systems of supervision.The first chapter of this paper briefly introduces the purpose of choosing this subject and the background and current situation of domestic and foreign researches.The second chapter introduces the definition and current situation of cross-border settlement services in China.Through the introduction of the necessity of China's cross-border RMB settlement business,as well as to the cross-border RMB settlement data summary of the business,showing the business at the beginning of the start,but today's outstanding achievements through the path all the way.The third chapter introduces the main form of risks of cross-border settlement services including interest arbitrage ? money laundering and money recycling.Although RMB internationalization degree is increasing in China,but the resulting risk of cross-border RMB is becoming more and more serious.Based on these risks arising from the cross-border RMB settlement business,reflects China's problems in the current regulation in this respect.The forth chapter introduces the current situation of supervision and current problems of cross-border settlement services.Through the transition of the third chapter summarizes the cross-border RMB settlement business problems existing in the current regulatory,and carry on the classification of the detailed introduction.The fifth chapter introduces the approach of enhancing the supervision of cross-border settlement services.From four aspects,and introduces how to strengthen the supervision of cross-border RMB settlement service in our country,including strengthening the relevant departments of the regulatory functions,integration of data resources,and improve the accuracy of the data,strengthen the training and the international exchange of regulators and improve cross-border RMB settlement business supervision,perfect the relevant laws and regulations.The sixth chapter is the conclusion of the paper and the vista in the future.Summing up the above five chapters in this paper,the content and conclusions,and puts forward related Suggestions to think of the future development of the cross-border RMB settlement business.