Research On RMB Settlement In Vietnam-China Border Trade

In recent years,the development of border trade between Vietnam and its border countries has promoted the social and economic development of the border.Since 2004,China has maintained the status of Vietnam's main trading partner,and Vietnam-China trade has developed actively.With the substantial increase in Vietnam-China trade quotas,border trade between the two countries has become more frequent.The level of bilateral trade cooperation between the two countries has continued to deepen,and the forms of cooperation have become increasingly diverse.The border trade between Vietnam and China accounts for about 85%of Vietnam's border trade.China-Vietnam trade has become an import,ant part of Vietnam's border trade.The reasons for the rapid development of the border trade between the two countries are various.In addition to the special geographical advantages,traditional friendship,and the complementary economic characteristics of the two countries,the two governments have provided many preferential policies for border trade.The role of the two countries' preferential policies has promoted many bilateral trade relations.Therefore,border trade settlement actively supports the development of border trade activities.Over the years,in order to avoid the impact of exchange rate risks on the RMB settlement of border trade,a stable settlement method has been set up for the development of Vietnam-China border trade.Therefore,this paper selects "Research on RMB Settlement Issues in Vietnam-China Border Trade" as the research theme.In this paper,three research methods are mainly used:literature analysis method,normative analysis method and empirical analysis method.First,this article analyzes the problems in the RMB settlement of Vietnam-China border trade:the legal documents of Vietnam's border trade settlement are inconsistent,and the border trade regulatory agency is not comprehensive.The border bank settlement system in China is not perfect.Second,this article studies the main factors affecting the settlement of RMB trade between China and Vietnam:Good-neighborly and friendly relations between Vietnam and China help the stable development of border trade settlement.China and Vietnam encourage and promote the policy of RMB settlement of border trade.It provides important factors such as the convenience of border trade settlement.Third,this paper studies the influence of various influencing factors on the settlement of RMB between Vietnam and China's border trade through principal component analysis and multiple linear regression models.It is found that the RMB settlement of Vietnam-China border trade has significant links with various influencing factors such as the total value of Vietnam-China border trade,the construction of overseas institutions,and the exchange rate.negative impacts.The quality of personnel,Vietnam-China policies to encourage and promote border trade,and the establishment of overseas institutions have a positive impact on the RMB settlement of Vietnam-China border trade.Finally,this article puts forward the corresponding policy recommendations for further promoting RMB settlement in border trade:maintaining policy stability,building communication and cooperation with each other;improving foreign exchange supervision and using regulatory means flexibly;improving the Vietnam-China border trade bank settlement cooperation system;rational use of trade settlement tools,and avoiding exchange rates Risk and interest rate risk;establish border trade zones,and improve border trade settlement.