Study On Financial Cooperation Between China And Mongolia Under "Belt And Road"

Based on the financial cooperation and development between China and Mongolia,this paper conducts a scientific investigation and analysis aiming at financial cooperation between China and Mongolia and the internationalization of RMB under the policy of "Belt and Road".Through the on-site investigation of the market of Erenhot,a port city in China,the author knows the history and status quo of financial cooperation between China and Mongolia.Through comparative analysis of many cases and data,the author finds out the problems existing in China-Mongolia financial cooperation.At the same time,the author continues to elaborate on the causes of these problems.The research findings hold that the crux of the financial cooperation and regulation between China and Mongolia lies in the imbalance of economic development between the two countries,the risks brought by political and foreign policies,the lack of regulatory laws and regulations and the impact of underground banks on formal banks,etc.These problems have a great impact on the development of bilateral trade between China and Mongolia.On the contrary.economic and trade development has also constrained financial cooperation.Therefore,under the overall goal of implementing the policy of opening up of China and Inner Mongolia to the north,the author proposes to strengthen the financial cooperation and interdepartmental communication between China and Mongolia and to relax the quota management of entry and exit of RMB cash under the trade.Industrial projects to enhance capital output capacity in line with China-Mongolia financial cooperation and development ideas.Meanwhile,both China and Mongolia shall adhere to the principle of complementary to each other,share mutual benefits in their financial or trade cooperation and constantly improve laws and regulations so as to guarantee the legal status of RMB in overseas investment and effectively expand China-Mongolia the quota of currency exchange,improve services and products so as to make the exchange between RMB and Mongolian Tugrik,strengthen the cooperation between official departments and the joint supervision over risks,thus laying the foundation for the cooperation in finance and trade between the two countries and effectively enhancing the quality and level of the bilateral opening-up policy.The innovation mentioned in this paper is based on the analysis of the cross-border financial cooperation in Erlian and recommendations on policy making is given as well,which may can be used as guiding suggestions for theoretical researches and practices.Most of the recommendations coming from the perspective of business exchange while carrying out the on-site research.There is enough data analysis,few regional traits analysis of border economy and inadequate research of political influence over cross-border region which is also the shortcoming of this paper.Additionally,with limited knowledge and time,the proposed suggestions for financial cooperation and control between the two countries remain to be discussed.