Recent Developments and the Causes of Globalization for the Chinese Yuan Based on Statistical Analysis

We analyze the spatial evolutionary path and features of Renminbi (RMB) internationalization from three aspects: transaction intermediary, invoicing unit, value storage. The main results show that: Firstly, RMB exhibits a certain expansion pattern, such as initially expands to East Asian countries regions, then gradually moves Southeast Asia, Europe, South America, Australia, participating in Belt Road initiative. Secondly, settlement cross-border trade presents “coast-border-inland” characteristics. Thirdly, bilateral currency swap shows “rapid growth” “unbalanced growth.” Finally, structure has significant “from points area lines area.”