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The Interaction between RMB Internationalization in Offshore Market and RMB Settlement in Cross-border Trade——Research Based on Trade Type

In: Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

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Listed:
  • Shanwei Cao

    (Shanxi University of Finance and Economics, Electronic Commerce)

Abstract

Based on the background of the " The Fourteenth Five-Year Plan " and the premise that the internationalization of RMB is different from other currencies, with the characteristic of internationalization is the construction of the offshore market as well as the reality that China is the world's largest trading country, this paper uses VAR method and the RMB global index from January 2012 to December 2019, the RMB settlement of cross-border trade, the RMB settlement of cross-border goods trade, monthly data of RMB settlement of cross-border service trade, quantifying the interaction between RMB internationalization in the offshore market and RMB settlement cross-border trade.

Suggested Citation

  • Shanwei Cao, 2023. "The Interaction between RMB Internationalization in Offshore Market and RMB Settlement in Cross-border Trade——Research Based on Trade Type," Advances in Economics, Business and Management Research, in: Hrushikesh Mallick & Gaikar Vilas B. & Ong Tze San (ed.), Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022), pages 808-815, Springer.
  • Handle: RePEc:spr:advbcp:978-94-6463-098-5_92
    DOI: 10.2991/978-94-6463-098-5_92
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