Supply-Side Structural Reforms Consolidate the Economic Foundation of RMB’s Internationalization

Abstract

Theoretical research and practices have shown that a strong economic strength is the basis of a country’s currency internationalization; the key for the success of RMB internationalization lies in the pivotal international presence of China’s economy. However, it is currently faced with arduous structural adjustment tasks and complex international economic environment constraints. New problems and new risks have put continual pressure on sustained economic growth. How can we break the bottleneck of China’s economic sustainable development? The supply-side structural reform is the only way. Only by reconstructing the basis of Chinese economy’s sustained and efficient development through supply-side reforms will the internationalization of the RMB be able to proceed in a more firmly and longer manner.