Study on Relationship of the RMB Internationalization, Cross-border Trade Settlement and Capital Account Liberalization

With the fast development of economic globalization, RMB internationalization is becoming a major issue .Since 2009 The State Council announced the policy of RMB settlement of cross-border trade, RMB internationalization has achieved a substantive stage of development.When we analyze the cross-border RMB settlement and RMB internationalization, we should also research on the issue of liberalization the capital account.This paper describes the situation of the RMB international, cross-boarder trade settlement and capital account liberalization, combined with relevant theoretical research, which seeks to draw the interaction mechanism among the three.Finally, this paper provides suggestions and measures about how to expand the cross-border trade RMB settlement, open capital account sequentially and promote RMB internationalization.The literature review of RMB internationalization, cross-boarder trade settlement and capital account liberalization  This paper was financially supported by strategy of free trade zone and research on RMB area (scientific research and innovation team of Sichuan colleges and universities; leader: Wei-dong Huo; project number: JBK130504)