China's Belt and Road Initiative and Rmb Internationalization

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, 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 obviously helpful for China to adopt more active policies in capital account convertibility and RMB internationalization and to accelerate the process of RMB internationalization.