Dissertation > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Exchange rate,foreign financial relations

The Mode and Path Research of RMB Internationalization

Author WangWei
Tutor ZhangQin
School Ningbo University
Course Finance
Keywords RMB internationalization currency internationalization condition mode path
CLC F832.6
Type Master's thesis
Year 2013
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The current international monetary system to the U.S. dollar as the dominant position thereare drawbacks, to weaken the dollar’s international status, to reform the current internationalmonetary system, to promote diversified monetary system, developed into a worldwide consensus.market level, the RMB has already spontaneously out of the country began the pace ofinternationalization; an official level, China is seizing historic opportunity, and steadily pushesforward the internationalization of the RMB. New historical stage, the Yuan should go of whatmode path to achieve international? Research on these issues is extremely urgent and important.First of all, through the historical process of internationalization of the four major internationalcurrency review a relatively comprehensive analysis of the main factors of currencyinternationalization, and an empirical test on the basis of this theory, innovative summed up thecurrency internationalization general law. Then, the analysis of the conditions and the pros andcons of the internationalization of the RMB. Finally, the drawing before the general rules ofinternational currency, the RMB internationalization mode and path selection.The conclusions of this study are as follows:Firstly, although the internationalization of the four major international currencies in whichdifferent historical stages, but the impact of factors are substantially the same, based on theoreticalanalysis and empirical analysis, summed up the general laws of currency internationalization.Secondly, currency internationalization can be divided into three modes: strong currencymode, the Regional Joint mode and incremental mode, the paper argues that in the current politicaland economic context of RMB internationalization mode should be chosen to go three modesparallel strategy.Thirdly, three modes parallel strategy requires us to actively improve the structure of foreigntrade and the way; To accelerate the development of domestic financial markets and offshore RMBcenter building; Steady progress RMB capital account liberalization; To speed up the reform of theRMB exchange rate mechanism; To promote RMB join SDR basket of currencies; Activelyparticipate in the East Asian monetary cooperation.

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