This paper employs PSTR model and empirically tests the nonlinear relationship between financial market development and the status as international reserve using 1993-2013 panel data. The results are as follows:firstly, the nonlinear relationship between financial market size, efficiency and international reserve status is significant; secondly, financial market efficiency has more effect on reserve status than financial market size; thirdly, opening financial market quickly is not a good way to improving RMB as international reserve.