Research On RMB Internationalization Under The "One Belt And One Road" Strategy

After the financial crisis,the international monetary system at the core of the dollar exposes its drawbacks.To some extent,the dominance of the U.S.dollar,euro and British pound is shaken.With the improvement of China's economic and trade level,the international status of RMB has gradually increased.More and more countries accept RMB as a cross-border trade and investment settlement and valuation currency.This is the starting point and foundation for the internationalization of a country's currency.China has signed bilateral swap agreements with more than 30 countries.Through the border trade,regional monetary cooperation,RMB outward direct investment and the radiation of Hongkong's offshore RMB center,the scale and scope of circulation of RMB are expanding.With the accession of the RMB to the SDR and the status of the international reserve currency established,all of them have laid a good foundation for the internationalization of RMB.The implementation of the "Belt and Road" strategy has accelerated the internationalization of the RMB.It also strengthens trade cooperation along the country as well as monetary and financial cooperation and provide good conditions for RMB surrounding,regionalization.The new geopolitics,abundant energy and other factors make the five Central Asian countries become the object that the United States and Russia compete."The Belt and Road" conforming to the times,it actively promotes economic and trade exchanges with Central Asian countries.It is beneficial to expand the circulation of RMB in Central Asia and to realize the internationalization of the RMB in Central Asia.China actively promotes capital account convertibility and promotes the reform of financial market and strengthens the construction of offshore financial center.China should create opportunities for the internationalization of RMB to seize new opportunities.The first chapter is the introduction.The second chapter summarizes the research summary of currency internationalization and related theories.The third chapter introduces the current situation,status and cost of RMB internationalization.The fourth chapter summarizes the main influence factors of RMB internationalization.The fifth chapter analysis the role of "The Belt and Road" strategy for the internationalization of RMB and then explore the feasibility of RMB internationalization in the Central Asian countries.In the sixth chapter,according to the experience of monetary internationalization in developed countries,we explore the development path of RMB internationalization.China should promote RMB peripheralization,regionalization and internationalization in an orderly way.The article puts forward the countermeasures and suggestions in view of the existing problems.It has guiding significance for the development of RMB internationalization in the future.It provides theoretical and practical experience for the currency internationalization of emerging market countries,which has certain reference significance.