Prospects and ways to promote the renminbi in the global currency market

Thanks to the progressive promotion of the initiative” One belt, one road " the internationalization of the yuan has achieved great success.Based on the analysis of the results of existing research on the prospects for the internationalization of the yuan using the basic model of forecasting international currency reserves, Mackenzie and Frankl forecast the prospects for the development of the yuan in the world currency in three directions: reserve currency, settlement and bond issuance.Finally, by integrating the current international situation and China's main national conditions, we propose a way to internationalize the yuan, to provide some theory and experience for the RMB internationalization strategy.