Research On The Development Strategy Of Cross Border RMB Business Of Commercial Banks In China

Since 2009,the country officially began cross-border RMB business pilot work,China's cross-border RMB business has ushered in the eighth year.In the past seven years,with the gradual liberalization,support and guidance of the national policy,the cross-border RMB business as an important strategic measure for the internationalization of the RMB has made remarkable achievements.According to the World Bank Financial Telecommunications Association(SWIFT)statistics,as of December 2015,the RMB has become the world's third largest trade financing currency,the top fifth payment currency,the currency exchange of the top fifth.In fact,the cross-border RMB business launch is comply with the development trend of domestic and international economic and financial,in the process of development,it is also related to the government,enterprises and commercial banks and other subjects,this article mainly from the development of China's commercial banks perspective to explore cross-border RMB business in China.As a cross-border RMB settlement business specific operators and operators of the bank,in promoting the development of cross-border RMB business in China has played a very critical role.The reason why commercial banks to develop the business of cross-border RMB,is a response to the national policy support and guidance,contributing to the internationalization of RMB;on the other hand is aware of the cross-border RMB business of commercial banks is an important way to seek new development.Cross border RMB business is both an opportunity and a challenge for commercial banks.Since the start of cross-border RMB business,although the amount of cross-border RMB data of commercial banks has been a great leap forward,but the development process of the problems can not be underestimated.In view of this,with the Commercial Bank of our country as the foothold,this article first reviews the relevant literature and theory of cross-border RMB business,and then reviews the development process of China's cross-border RMB business,the development of cross-border RMB business on the significance of China's commercial banks.Followed by the Agricultural Bank of China Suzhou branch as an example,this article focuses on the present situation of the development of cross-border RMB business of commercial banks in China and the existing problems,finally according to the existing problems,puts forward the commercial bank cross-border RMB business development strategy from product innovation,marketing,personnel training,risk control four aspects to provide reference and help in order to further development of cross-border RMB business of commercial banks in China.