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The Study on the Influencing Factors of RMB Cross-border Settlement under the Strategy of “One Belt One Road”——The Empirical Analysis Based on VECM Model
Pages: 55-59
Year: Issue:  5
Journal: Xi'an Finance

Keyword:  strategy of"One Belt One Road"RMB cross-border settlementinfluencing factor;
Abstract: The strategy of "One Belt One Road" has an important driving force for the realization of RMB settlement of cross-border trade. Since July 2009, China’s cross-border trade in RMB business has developed rapidly, but there are many constraint factors. The paper analyzes the status of RMB settlement of cross-border trade under the strategy of"One Belt One Road", makes an empirical study on the influencing factors of the scale of RMB settlement of cross-border trade, finding that the level of foreign trade,offshore RMB market and RMB foreign exchange rate fluctuation will form a certain impact on RMB settlement of cross-border trade.Finally, the paper puts forward countermeasures and suggestions on further promoting the development of RMB settlement business of cross-border trade.
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