Abstract In recent years, the status of RMB in Asia and even in the whole world has been increased gradually by the rapid growth of Chinese economic, the improvement of Chinese overall economic strength and the continuous stability of the RMB exchange rate. Since the U.S. subprime mortgage crisis, which has caused global financial crisis in 2007, the international community keeps accusing of the current U.S. dollar-dominated international financial and monetary system more and more, and the demands for reforming the international monetary system are increasing. Recently, Chinese government is taking successful measures to accelerate RMB regionalization process. At the same time, however, Chinese RMB regionalization will also to some extent damage the independent of monetary policy, speculative attacks and other risks. Regionalization of RMB is inevitable. However, as the regionalization of RMB is a natural and continuous mature process, in which there are many uncertain factors, we should be based on Chinese specific conditions and general international currency law and push the regionalization of RMB smoothly. In this paper, based on many previous studies, firstly, I explain the meaning of RMB regionalization and optimum currency area theory briefly. Secondly, I research the international process and different characteristics of the world's current three major currencies. Thirdly, I analyze the feasibility of RMB regionalization. Fourthly, I analyze the pros and cons, followed by putting forward the overall strategy and policy recommendations. Key words: RMB regionalization, RMB internationalization, path selection
