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China's belt and road initiative and RMB internationalization

By: Material type: TextTextSeries: Series on China's belt and road initiative; 9Publication details: World Scientific Publishing 2020 SingaporeDescription: xvii, 352 p.: ill. Includes references and indexISBN:
  • 9789813278899
Subject(s): DDC classification:
  • 332.4560951 G2C4-IX
Summary: The Chinese economy has long been emphasizing globalization. Many factors including domestic currency policies, exchange policies and cross-border capital flow are becoming increasingly complex. Therefore, China is steadily pushing forward RMB internationalization to meet the market requirements emerging from global cooperation that has resulted from the Belt and Road Initiative. In the perspective of currency development, the internationalization of RMB is a general trend and a historical choice. As an important measure of China to fully open up and integrate with international community, the Belt and Road Initiative intends to effectively connect relevant countries, from different areas such as policies, roads, trade, capital and popular support. The financial cooperation based on domestic currencies is an important aspect of the Belt and Road Initiative, and an important means to meet the financial needs of various countries. Financing of Belt and Road Initiative-related projects is clearly helpful for China in adopting more active policies in capital account convertibility and RMB internationalization and to accelerate the process of RMB internationalization. https://www.worldscientific.com/worldscibooks/10.1142/11230
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Item type Current library Item location Collection Shelving location Call number Status Date due Barcode
Books Vikram Sarabhai Library Rack 18-B / Slot 683 (0 Floor, West Wing) Non-fiction General Stacks 332.4560951 G2C4-IX (Browse shelf(Opens below)) Available 202019

Table of content

Introduction
Theoretical Foundation of RMB Internationalization
Coordination between Belt and Road Initiative and RMB Internationalization
Internationalization Experience of Several Major Currencies
Belt and Road Initiative and Financial Innovation
Selection of Capital Account Opening Pathways
Overseas RMB Offshore Financial Markets
Petroleum RMB and RMB Internationalization
Green Finance and RMB Internationalization
Overseas RMB Funds in France
RMB Internationalization in Arab League Countries
RMB Internationalization in Russia
RMB Internationalization by Banks
Breakthrough of RMB Internationalization in Egypt
Conclusion: Policy Suggestions

The Chinese economy has long been emphasizing globalization. Many factors including domestic currency policies, exchange policies and cross-border capital flow are becoming increasingly complex. Therefore, China is steadily pushing forward RMB internationalization to meet the market requirements emerging from global cooperation that has resulted from the Belt and Road Initiative.
In the perspective of currency development, the internationalization of RMB is a general trend and a historical choice. As an important measure of China to fully open up and integrate with international community, the Belt and Road Initiative intends to effectively connect relevant countries, from different areas such as policies, roads, trade, capital and popular support. The financial cooperation based on domestic currencies is an important aspect of the Belt and Road Initiative, and an important means to meet the financial needs of various countries. Financing of Belt and Road Initiative-related projects is clearly helpful for China in adopting more active policies in capital account convertibility and RMB internationalization and to accelerate the process of RMB internationalization.

https://www.worldscientific.com/worldscibooks/10.1142/11230

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