Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, July 7–9, 2023, Chongqing, China

Research Article

An Analytical Study on The Internationalization of China's RMB Currency

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  • @INPROCEEDINGS{10.4108/eai.7-7-2023.2338049,
        author={Xiaomeng  Tian and Xiaoge  Zheng and Jiaxing  Wei and Nan  Zhang},
        title={An Analytical Study on The Internationalization of China's RMB Currency},
        proceedings={Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, July 7--9, 2023, Chongqing, China},
        publisher={EAI},
        proceedings_a={FFIT},
        year={2023},
        month={10},
        keywords={international monetary system; rmb; internationalization; currency},
        doi={10.4108/eai.7-7-2023.2338049}
    }
    
  • Xiaomeng Tian
    Xiaoge Zheng
    Jiaxing Wei
    Nan Zhang
    Year: 2023
    An Analytical Study on The Internationalization of China's RMB Currency
    FFIT
    EAI
    DOI: 10.4108/eai.7-7-2023.2338049
Xiaomeng Tian1, Xiaoge Zheng2, Jiaxing Wei3, Nan Zhang4,*
  • 1: Queen Mary University of London
  • 2: Macau University of Science and Technology
  • 3: University of Sunderland
  • 4: Hitotsubashi University
*Contact email: loveessay0610@gmail.com

Abstract

The internationalization of the RMB is an inevitable trend as China's economic strength increases and the value of the RMB stabilizes. This essay offers an analytical framework of the internationalization of RMB; it outlines the advantages and ad-vantages s of the RMB with a view to finding ways to avoid the harm in the interna-tionalization of the RMB, so as to make useful suggestions for policy formulation. It further constructs a comparison of the pros and cons of internationalizing the RMB with the current situation and the favorable conditions for the development of inter-nationalization. Consequently, it outlines future suggestion for the development of RMB in its facet pf development.