The Research On The Determinates Of Construction Of The Bilateral Foreign Exchange Market For The RMB And Thai Baht

With the building of the China-ASEAN free trade area,the economic and trade contacts between China and countries in ASEAN,is increasingly close.Meanwhile,with the accelerating of regionalized and internationalized process of RMB,and the implement of the RMB settlement,the circulation scale of RMB in the surrounding countries continuously expands.The building of the bilateral foreign exchange market between RMB and currencies in ASEAN countries,on one hand,can accelerate trade and investment facilitation,support a high-speed economic development of China and Thailand;On the other hand,it can play a role of model and guiding for the building of other regional or bilateral foreign exchange market.The mean content of this study is the influence factors of the building of the RMB and Baht bilateral foreign exchange market.The research methods are mainly literature analysis,survey analysis,theoretical analysis and quantitative analysis,etc.The paper structure is divided into the following five chapters:The first chapter,the paper stated briefly the reason of selecting the topic and research significance,meanwhile,combed the related literature at home and abroad to know the research status,and summarized the existing problems and deficiencies to the present research,at the same time,combining the research background,conceived the research thought,and established the research methods,finally,pointed out the innovation point and shortcomings of this paper.The second chapter summarized the theoretical basis of the building of the bilateral foreign exchange market.These theories involve mainly the theoretical basis of the foreign exchange market,the main factors affecting the development of the foreign exchange market,and the main factors affecting the development of the bilateral foreign exchange market.The third chapter,reported the status quo of the building of the RMB and Baht bilateral foreign exchange market,and analyzed the main problems that may be existed in its further construction and development.The forth chapter emphatically analyzed the factors influencing the building of the RMB and Baht bilateral foreign exchange market.The macro and micro factors were fully taken into account.The study methods were combined qualitative and quantitative analysis.The fifth part,summarized the research conclusion from the part of the research status to the related problems,the status and factors of the construction of the bilateral foreign exchange market,meanwhile,four countermeasures and suggestions were given.Through the analysis on the influence factors of the building of the RMB and Baht foreign exchange market,the main conclusions are concluded as follows:(1)In view of the research status: these literatures focused on the study of the multilateral foreign exchange market mostly,few to the lateral foreign exchange market,some of which refer to the building of the regional foreign exchange market.(2)In view of the building status: the building the RMB and Baht bilateral foreign exchange market is still in its infant stage,which show the less market body and turnover,defective trading mechanism,and the single trading products.(3)In view of the factors: the favorable factors include the stable international political relation,the improved trade and capital liquidity constantly,the rise of the tourist numbers between China and Thailand,the increasingly improvement of the institutional environment,and the co-movement of economic and financial index;the adverse factors reflected on the larger of the lateral open-up level gap,the lower bilateral financial development level,and the lager of the policies of economy and trade.In which,the main factors include the stable political and economic environment,the continuously development of the bilateral trading relations,and the innovation of the bilateral foreign economic institution,the secondary factors include the factors of foreign exchange market body,the development of the electronic information technology,the convenience of traffic,and so on.