Research On the Impact of The Belt and Road Initiative on RMB Cross-Border Settlement

Zhongchi Xue

doi:10.54097/m9hres32

Authors

Zhongchi Xue

DOI:

https://doi.org/10.54097/m9hres32

Keywords:

Belt and Road; RMB cross-border settlement; RMB internationalization.

Abstract

With the continuous attention and deep participation of the "Belt and Road" (B&R) initiative in the world, RMB cross-border settlement (CBRBS) has not only ushered in an unprecedented period of historical opportunities, but also entered a critical period of coexistence of risks and opportunities. This paper extensively collected and comprehensively analyzed the latest research results in relevant fields at home and abroad, and thoroughly analyzed the operation logic, current development trend and multi-dimensional challenges faced by the CBRBS mechanism, including international financial market fluctuations, exchange rate risks, and legal compliance. The study clearly points out that the "Belt and Road" Initiative has opened up a broad international market space for CBRBS and significantly accelerated the pace of RMB internationalization. In view of the unavoidable risks and challenges in this process, this paper further puts forward forward-looking and operable policy suggestions, aiming at precise policies, optimizing the implementation path of CBRBS in the "Belt and Road" construction, and laying a solid foundation for its sustainable, healthy and stable development.

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