Research On The Strategic Layout Of RMB Offshore Financial Market

Under the policy of RMB cross-border trade settlement,currency swap and RMB offshore financial market,RMB internationalization has achieved certain development.After the renminbi joined the SDR,more and more countries began to include the renminbi in their foreign exchange reserves.However,the degree of internationalization of RMB is still far from the dollar,euro,pound and other international currencies.In order to promote the internationalization of RMB,we need to deepen the development of RMB offshore financial market because RMB offshore financial market is a strategic choice based on China's current economic situation and financial market development situation.It helps to build the renminbi's global currency network system while without opening the capital account,thus playing an important supporting role in the internationalization of RMB.This paper mainly adopts the method of qualitative analysis and quantitative analysis to study the global layout of RMB offshore financial market.The first part discusses the international experience of the relationship between the dollar and the yen currency and the offshore financial market.Although there is no unified path for currency internationalization,the development experience of international currency can provide reference for RMB internationalization.Then,the theory of global financial integration theory,financial development path theory and network externality theory lay the theoretical foundation for the development of RMB offshore financial market.Moreover,it further analyzes the positive role of RMB offshore financial market in promoting RMB internationalization through the function of RMB offshore financial market and the interaction between offshore market and onshore market.At the same time,it also analyzes the development history and development status of RMB offshore financial market,so as to have a comprehensive grasp of the development of RMB offshore financial market.In quantitative analysis,this paper uses the method of factor analysis and cluster analysis method to build the index system of the construction of RMB offshore financial market,which selecting specific indicators from two levels of comprehensive development of target countries and its relationship with China.Then,based on the results of the index system,the paper analyzes the strategic choice and strategic fulcrum selection of RMB offshore market construction by combining quantitative analysis with qualitative analysis.On this basis,this paper establish the global hierarchy framework of RMB offshore financial market construction and development,so as to promote the establishment of the renminbi outside circulation network system,cultivating the renminbi in global trade and investment channel advantages,boosting the internationalisation of the renminbi.