Research on the Impact of Digital Currencies on the Internationalisation of the Renminbi and the Role of Promotion

Abstract

The internationalisation of the RMB faces many opportunities and risks under the current new international development situation. It is precisely for this reason that the Chinese government should take every step carefully, and it should seize the opportunity now that the hegemony of the US dollar is loosening. The Chinese government is at the forefront of the development of the digital RMB and has already put it into practice many times. It has China's unique dual operation system, controlled anonymity and so on. The Chinese government should maintain the advantage, continuously improve the digital RMB standard, and vigorously develop the settlement system of digital RMB. This paper is based on the current status of the preliminary development of the central bank digital currency, analyses the advantages of the Chinese government's legal tender digital currency, for the study of the impact of the digital currency on the process of RMB internationalisation has a certain reference value.