In recent years, with China's rapid development of economy and opening up, RMB has being gradually accepted by other countries. The internationalization of the RMB has become an inevitable trend and RMB in the international monetary system will play a more important role. This paper analyzes the factors of currency internationalization. The result shows that economic foundation, financial deepening, stability of currency and network externality contribute to the international use of currency. Then it discusses the feasibility of RMB internationalization as well as the coordination between monetary and exchange rate policy and supervision.