Abstract:

The loophole in the USD-dominated international monetary system had exposed in the Global Financial Crisis in 2008. In order to develop the variety of international monetary system, China had implemented RMB internationalization strategy in 2009. e.g. Outward Foreign Direct Investment (OFDI). To illustrate the relationship between OFDI and RMB internationalization, this paper conducted an empirical study about the correlations between OFDI, RMB internationalization, GDP, exchange rate as well as trade volume of china in the world through the VAR model. And the time serial data spanning from September 2009 to June 2017 was chosen. The results argued that RMB internationalization could be promoted by the OFDI and the GDP, while GDP had greater influence.