International Monetary Institute of the RUC
March 18, 2019 Forthcoming
Reference - 308 Pages - 49 B/W Illustrations
ISBN 9781138090002 - CAT# Y334404
Series: China Perspectives
Renminbi (RMB) internationalization and the "Belt and Road" initiative are two important development strategies launched by China as a rising power. From the perspectives of theoretical exploration, historical experience and empirical research, this book discusses the mutually beneficial interaction between the two strategies.
To start with, it introduces the Renminbi Internationalization Index (RII) created and published annually by the author, the International Monetary Institution of Renmin University of China, to reflect the use of the RMB in international economic activities. Also, the current situation of RMB internationalization and the Silk Road are studied, including the strategic value of the "Belt and Road" initiative and its relationship with supply of global public goods. Then it examines trade data and infrastructure financing in the "Belt and Road" countries, believing that pricing and settlement of commodities is the main direction of RMB internationalization and infrastructure financing will be a breakthrough point. Besides, it emphasizes that industry development zone construction and cross-border e-commerce among the countries should be the key to RMB internationalization.
Researchers and students in finance and Chinese economy will benefit from this book. In addition, monetary authorities and those interested in the "Belt and Road" initiative will be attracted by it.
List of figures
List of tables
List of contributors
Chapter 1 Internationalization Index of the Renminbi
Chapter 2 Current Situation of the Internationalization of RMB
Chapter 3 The Silk Road: From the Past to the Future
Chapter 4 The "Belt and Road" Initiative and RMB’s Internationalization: Reciprocity
Chapter 5 Choice on the Pricing Currency for the "Belt and Road" Traded Products
Chapter 6 RMB in the Infrastructure Finance of the"Belt and Road" Initiative
Chapter 7 Using Industrial Parks to Promote RMB’s Internationalization
Chapter 8 Supporting RMB’s Internationalization by E-commerce
Chapter 9 Conclusions and Proposals
Appendix 1 Helping Domestic Corporations "Go Out" with Financial Supports under the "Belt and Road" Initiative
Appendix 2 Offshore RMB Deposits, Loans, and Dim Sum Bonds: Review and Prospect
Appendix 3 International Comparison on the Tax Policy in the "Belt and Road" Economies-Based on the Five Central Asian Countries along the Silk Road
Appendix 4 Timeline of RMB Internationalization 2014