Research on the Impact of Digital RMB Cross Border Payment on RMB Internationalization
Research on the Impact of Digital RMB Cross Border Payment on RMB Internationalization

Author(s): Xiaopin Liang, Liwei Shang, Siyi Chen
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Economic policy, Financial Markets, ICT Information and Communications Technologies
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: digital RMB; cross-border payment; RMB internationalization
Summary/Abstract: With the booming development of digital technology and digital economy, digital RMB has attracted widespread attention in various fields, and whether digital RMB cross-border payment can promote the internationalization of RMB has become one of the current research hotspots. China started the pilot program for RMB cross-border settlement in 2009, and the process of internationalization of RMB has been accelerating. However, there are still many challenges in the process of RMB internationalization, such as the development level of China's financial market, the opening level of capital account and so on. However, through the use of digital RMB for cross-border payments, it can better cope with the difficulties and challenges faced in the process of RMB internationalization. To this end, this paper takes the digital RMB cross-border payment as the guidance and analyzes its impact on the internationalization of RMB.

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