A Case Study Of Bank Of China's Cross Border RMB Business Innovation

Since the pilot project of cross-border RMB trade settlement was launched in2009,until 2014,the annual growth rate of cross-border RMB settlement has been maintained at over 40%,which has undergone a period of rapid development.In 2016,due to the slow development of China's foreign trade,RMB exchange rate depreciation expectations and macro-prudential policy adjustments and other factors,the cross-border RMB business settlement volume fell sharply,down 18.6%year-on-year.In 2017,the settlement volume of cross-border RMB business decreased by 6.7% year-on-year,while the decline was narrowed compared with 18.6% in 2016.In this context,the Bank of China's cross-border RMB business settlement volume also experienced a sharp decline in 2016,which was decreased by 25.05%year-on-year.In 2017,the Bank of China's cross-border RMB business settlement volume fell 5.2% year-on-year,and also,the Bank of China lost its first position in cross-border RMB business.What are the problems of Bank of China in developing cross-border RMB business innovation? What are the factors that affect the development of cross-border RMB business innovation of the Bank of China?Therefore,focusing on the Bank of China itself,this paper analyses the product innovation and the channel construction of the cross-border RMB business innovation of the Bank of China,and draws a conclusion that the innovation motivation of products under the current account of cross-border RMB business of the Bank of China is insufficient,the type of product innovation under the capital account is insufficient,and although the Bank of China's overseas channel construction is dominant,its advantages are gradually weakening.Its domestic channel construction is a disadvantage.This paper also analyses the factors affecting the development of cross-border RMB business innovation.Then it puts forward specific suggestions for the Bank of China to carry out cross-border RMB business.Finally,we get some enlightenment for the development of RMB Internationalization...