RMB Internationalization Infrastructure Constraints To Be Solved

At the Eleventh China ASEAN Expo held in Nanning, Guangxi, financial circles from home and abroad launched a heated debate on the internationalization of RMB.

There is a view that the RMB cross-border settlement growth trend is obvious in recent years. At the same time, the RMB "going out" is also facing the problem of high paction cost due to the imperfect infrastructure.

Relevant statistics show that in recent years, the cross-border settlement of RMB has increased significantly, and the scope of RMB cross-border settlement has gradually expanded.

The relevant people believe that with the increase of China's pnational trade and investment, the pace of RMB internationalization will accelerate in the future.

According to the people's Bank of China Statistics, in the 174 countries and regions involved, as of the end of August, the cross border settlement accounts for the proportion of all foreign currency cross-border revenue and expenditure, from 1.7% in 2010 to 24.6% in the first half of 2014.

The proportion of RMB settlement in import and export of goods trade increased from 2.2% in 2010 to 15.8% in August before 2014.

There is a view that the renminbi

Still very low, compared with the mainstream currency, there is a clear gap.

In the process of RMB internationalization, it still faces problems such as imperfect infrastructure and insufficient business innovation capability.

First of all, experts believe that

The development of offshore RMB products such as cross-border mobility and use, settlement, financing and trading can not be separated from the support of the clearing network. However, the number of RMB cross-border clearing centers in Chinese banks is still small, and it is difficult to provide efficient.

And clearing services.

Secondly, business innovation is not enough, and it is difficult to use RMB to invest and finance abroad.

In response to the plaguing of the current RMB internationalization, it is suggested that on the one hand, a safe, efficient and convenient cross border settlement and clearing network should be built through strengthening cooperation among all parties.

We should actively promote conditional state development of offshore RMB centers, coordinate and solve the technology, infrastructure and regulatory issues of offshore RMB market pactions, and promote diversification of offshore RMB centers.