Research on the Process of RMB Internationalization under the Belt and Road Initiative

Abstract

The internationalization of the RMB is of great significance to the further development of China's economy, the reform of China's financial system, and the improvement of the status of the RMB in the international monetary system. The "One Belt, One Road" is a global development initiative proposed by Chinese President Xi Jinping in 2013. The countries along the route are China important strategic direction of opening up to the outside world. Through the "One Belt, One Road" initiative, strengthening trade exchanges and financial cooperation between China and neighboring regions will help China's economic prosperity and development, and this will aslo support efforts to improve the RMB's standing within the global monetary system.The internationalization of the RMB is an important manifestation of the financial integration of Chinese capital under the "One Belt, One Road"initiative and an important support for promoting the construction of the "One Belt, One Road" initiative. Strengthening the research on the process of RMB internationalization under the "One Belt, One Road"initiative has important practical and strategic significance. This article mainly combines the influencing factors of RMB internationalization, summarizes the results of RMB internationalization under the "One Belt, One Road" initiative, and provides prospects for RMB internationalization.