Research On The Influencing Factors And Supervision Of RMB Internationalization Risks

Due to the constant advancing of economic globalization,the hidden danger of economic crisis has quietly existed in various countries and regions all over the world.With the further economic ties and contacts between countries and regions in the world,the scope of the economic crisis is further expanded,the destructive force is further deepened,and the challenges are further increased.The US subprime mortgage crisis broke out in 2007,exposing the potential harm of the US dollar as single-large currency.At the same time,it also indicates the trend of international currency diversification.Although the crisis after the global economic recovery is weak,howerver,the economic development of China is upstream,and it also laid a solid foundation for the continuous development of RMB on the road of internationalization.It also makes RMB internationalization rapidly rise to the height of national strategy.In addition,the reform of the current international monetary system has been widely appealed.Moreover,as the second largest economy in the world,China has the largest foreign exchange reserves in the world.The impact and status of RMB in various countries and regions have been significantly improved.The further internationalization of RMB has attracted worldwide attention.But there is still a short board on the way of internationalization of RMB.RMB is still facing all kinds of potential risks and crises in the process of internationalization.At present,China's related policies and regulations concerning RMB internationalization need to be perfected.This paper combs and studies the related achievements of currency in the process of internationalization,and clarifies the meaning and conditions of currency internationalization,and measure the degree of internationalization.The risk types and causes in the process of currency internationalization are analyzed.The risk factors in the process of RMB internationalization are empirically analyzed and tested.The result shows that only when China's own economic strength is increasing,can RMB become more and more successful on the international road.China's economic strength will continue to grow with the increasing scale of domestic economy.From the level of demand management,The enlargement of domestic economy depends on consumption,investment,government purchase and net export.And increasing demand requires lower inflation and exchange rate.The low inflation rate and exchange rate will inevitably increase the stock of RMB.As a result,the proportion of RMB stock in the total stock of the world will show an upward trend.Rise in the rate of currency substitution results that the external constraints that RMB faces will be greater,the responsibility to take will be greater,the independent monetary policy would be more difficult,the corresponding policy adjustment will be weakened,and that the risk increases with it.With the further promotion of RMB internationalization,risks will be further expanded.Relevant departments should not only face risks with a more positive attitude,but also develop and implement targeted,regular and effective risk management strategies in some dangerous situations which cannot be evaded to Reduce the foreseeable and unforeseeable loss to the minimum.At the same time,from the risk and regulatory aspects of international currencies such as dollar,euro and yen.This paper further analyzes how to cope with the corresponding regulatory measures of the currency policy risk,exchange rate policy risk,financial policy risk and capital flow risk in the process of internationalization of RMB.Based on the empirical analysis and test results in the foregoing,combined with international reference and existing risk supervision measures of RMB internationalization,aiming at the currency risk,financial risk and financial system risk of RMB in the process of internationalization,the corresponding risk regulation strategies are put forward respectively.