RMB Internationalization Based on the Perspective of the Belt and Road

Abstract

This paper mainly expounds on the motivation of RMB internationalization and the mutually beneficial relationship between the Belt and Road Initiative (BRI) and renminbi (RMB) internationalization through literature collection. As China's economic power and voice grow, the yuan also needs a place in the world monetary system. The inclusion of RMB into SDR is a sign of recognition by the world monetary system. However, the RMB is expected to become a successful regional and even international currency through the deepening cooperation between the Belt and Road and countries along the routes.