Exploring the Development Trend of RMB Internationalization in ASEAN from the Perspective of Cooperation Mechanism

Over the past few years, the internationalization of the RMB has deeply developed within ASEAN countries. The economic and trade collaboration between China and ASEAN nations is inextricably linked. With the increasing demand for RMB usage in ASEAN, the infrastructure is gradually improving, and the influence of the RMB is strengthening. This is attributed to the formulation and implementation of regional cooperation mechanisms, building a pattern of political mutual trust, and promoting comprehensive connectivity, which brings opportunities and certain obstacles to the internationalization of the RMB in the ASEAN region. With the implementation of RCEP, this trend will become more apparent.