China’s Belt and Road Initiative and RMB Internationalization (Series on China’s Belt and Road Initiative Book 9)

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.

Contents:

• 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

Readership: Academics, professionals, policy-makers and students interested in China’s Belt and Road Initiative and China’s relations with neighboring areas.