With the promotion of RMB internationalization and the continuously expanding scale of Silk Road e-commerce trade,it is an inevitable choice for market development to use RMB as the cross-border settlement currency to save exchange costs.Silk Road e-commerce will become new areas of growth for RMB cross-border settlement.From the perspective of Silk Road e-commerce,this paper analyzes the constraints and countermeasures that affect RMB cross-border settlement.The study found that factors such as relative weakness of financial infrastructure in some countries along the Belt and Road,uneven opening of financial markets,insufficient innovation of financial technology,imperfect layout of overseas RMB clearing banks,monetary inertia,the division of labor status in global value chains,uneffective linkage between onshore and offshore markets have constrained RMB cross-border settlement.We should strengthen the financial infrastructure construction of the Belt and Road by financial technology,expand bilateral monetary cooperation,optimize the layout of Chinese financial institutions of the Belt and Road,remodel the division of labor status in global value chains by cross-border e-commerce,promote RMB pricing and settlement of bulk commodities,strengthen the coordinated development of the onshore-offshore market.
silk road e-commerceRMB cross-border settlementthe Belt and Roaddigital yuanfinancial technology
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