chapter 1 internationalization index of renminbi 1.1 rmb internationalization index and its principles 1.1.1 internationalization of the rmb 1.1.2 the definition of rmb internationalization index 1.1.3 the purpose of the compilation of rmb internationalization index 1.2 the compilation principles of rmb internationalization index 1.3 the compilation method of rmb internationalization index 1.3.1 indicator system 1.3.2 the source and processing of data 1.3.3 the model of rmb internationalization index 1.3.4 the implication of rmb internationalization index 1.4 the level of rmb internationalization since 2010 1.4.1 the performance of rmb internationalization index 1.4.2 the analysis of the variation of rmb internationalization index 1.5 comparisons among internationalization index of major currencies chapter 2 current situation of rmb internationalization 2.1 rmb cross-border trade settlement 2.1.1 characters of rmb cross-border trade settlement .2.1.2 comparison of international trade settlement currencies 2.2 rmb transactions in international financial market 2.2.1 foreign exchange market 2.2.2 stock market 2.2.3 derivative market 2.2.4 overseas credit market 2.2.5 international bond and bill market 2.2.6 offshore financial market 2.3 the current situation of direct investment and securities investment 2.3.1 rmb overseas direct investment 2.3.2 rmb foreign direct investment 2.3.3 foreign-invested rmb financial assets 2.4 rmb swap by monetary authorities 2.5 rmb in global foreign exchange reserves 2.6 exchange rate of rmb 2.6.1 rmb exchange rate system 2.6.2 rmb exchange rate 2.7 current situation of china's capital account openness chapter 3 important incidents and their influences 3.1 realize overall cross-border trade settled in renminbi 3.1.1 ever expanding scope of cross-border trade settled in renminbi 3.1.2 ever increasing content arrd amount of renminbi settlement of cross-border trade 3.1.3 analysis of the influences 3.2 start experiment units of cross-border renminbi capital flow 3.2.1 security trade in capital market 3.2.2 renminbi direct investment 3.3 renminbi prepares to serve as reserve currency 3.3.t sign currency exchange agreements with foreign countries 3.3.2 foreign governmental institutions start to pay attention to renminbi 3.4 building hong kong offshore renminbi market 3.4.1 signing and revising of clearing agreement 3.4.2 central government supports hong kong to be renminbi offshore financial center 3.4.3 finance service and market innovation 3.4.4 existing problems and prospect forecast special column 3-1 hong kong and shanghai: competition and cooperation special column 3-2 deviation between cnh and cny 3.5 foreign exchange trade with small currency is developing 3.5.1 small currencies traded over the counter are increasing 3.5.2 start experimental units of small currency interbank regional market 3.5.3 analysis of the influences chapter 4 annual hot issues on the internationalization of renminbi 4.1 does the internationalization of rmb require the continuous expected appreciation of rmb? 4.1.1 the pressure of rmb appreciation is the result of superposition from many factors 4.1.2 rmb continuous appreciation may endanger its internationalization process 4.1.3 the value of rmb should be maintained within the equilibrium level in the long term 4.2 does it necessary to open a public capital account as the prerequisite of rmb internationalization? 4.2.1 the liberalization of capital account is a gradual process 4.2.2 rmb internationalization and capital account liberalization arecomplimenting 4.2.3 the liberalization process of capital account 4.3 what is the need of building hong kong offshore rmb market? 4.3.1 hong kong's offshore rmb market background 4.3.2 attempt in having a way out from "use) trap" 4.3.3 rmb offshore market's risk 4.3.4 crisis or opportunity chapter 5 historical opportunities of the internationalization of renminhi 5.1 the continucus growth of ohina's total economy and foreign trade scale 5.1.1 the strength of economy is the premise of its currency's internalization process 5.1.2 the internationalization of currency is the objective need of international trade 5.2 most developed countries in the western world have fallen into economic recession 5.2.1 america has enforced two rounds of quantitative easing but gets little effect special column 5-1 usa' from subprime crisis to economic crisis 5.2.2 european sovereign debt crisis intensified special column 5-2 how the debt crisis spread to the entire euro zone 5.2.3 the expose of drawbacks of the economic model in europe and the united states 5.3 the promotion of the emerging countries' economies has pushed the reform of international monetary system 5.3.1 brics have become an important'force in the world economy 5.3.2 brics have gained more power in the international monetary financial system 5.4 the large scale of foreign exchange reserve has built the credit foundation of internationalization of renminbi special column 5-3 controversial ways of using foreign exchange reserves 5.5 the inclusiveness spirit in the chinese culture special column 5-4 jungle principle of western countries and the confucian principle of china special column 5-5 cultural reflection on japan's history chapter 6 challenges of the internationalization of renminbi 6.1 imbalances in the model of economic development and economic structure 6.1.1 china is a country with large trading scale rather than a powerful trade nation 6.1.2 economic structure imbalance 6.1.3 weak technical innovation 6.2 vulnerability of the domestic financial system 6.2.1 the financial model has a strong dependence on the government 6.2.2 the financial system is at the iow level of marketization 6.2.3 excessive monetization of economy 6.2.4 monetary policy lacks independence 6.2.5 pressure of being replaced by the offshore renminbi marke 6.3 severe external economic environment 6.3.1 the "inertia" in the international monetary system 6.3.2 speculative risk of the outflow of renminbi chapter 7 conclusions and suggestions 7.1 major conclusions 7.2 long-term strategies of the internationalization of renminbi 7.3 short-term strategies of the internationalization of re0minbi appendix 1 a summary of views: an interpretation of internationalization of the rmb appendix 2 review of the internationalization of world's major currencies appendix 3 rmb cross-border business innovation of the bank of communications appendix 4 rmb internationalization chronicle references