Against the backdrop of a wave of global digitalization, the introduction of a digital currency electronic payment in China brings new opportunities for the internationalization of RMB in response to challenges such as the US dollar-centric world hegemony, insignificant network externalities of RMB, and the relatively underdeveloped financial markets. This paper starts from the definition and characteristics of digital currency electronic payment in China, analyzing the mechanisms through which implementation of digital currency in China influences RMB internationalization. Specific research indicates that digital currency promotes RMB internationalization by enhancing network externalities of RMB, stabilizing its value, and fostering financial development. Based on these conclusions, the paper proposes relevant suggestions aimed at accelerating the process of RMB internationalization.

Yanjuan Xie. Research on Digital Currency Electronic Payment and RMB Internationalization. Academic Journal of Business & Management (2024) Vol. 6, Issue 9: 273-278. https://doi.org/10.25236/AJBM.2024.060937.

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