RMB Cross-border settlement for 400 companies

Han San Hai Cao Jinling with the official start of RMB settlement of Cross-border Trade, about 400 pilot enterprises in China are expected to be the first winners. Yesterday, CBN reporter from the Bank of Communications (601328.SH,03328.HK, hereinafter referred to as "the") and the Bank of China (601988.SH,03988.HK) related people learned that, from the current understanding of the situation, Shanghai, Guangdong (except Shenzhen), Shenzhen area will be about 100 respectively,　　200, 100 enterprises in the pilot Cross-border trade renminbi settlement, the list of specific enterprises will be announced recently. According to CBN Reporter's understanding, if the enterprise in the pilot area registration, has the import and export operation right and has the renminbi to carry on the Cross-border trade settlement the intention, may apply to the local government, the pilot enterprise's determination by the pilot area provincial People's government is responsible for coordinates the local relevant department to recommend, then by　　The Ministry of Commerce, General administration of Customs, taxation administration, CBRC and other relevant departments for audit.　　At present, the territory of cross-border trade in renminbi settlement pilot areas including Shanghai, Guangdong Province, Guangzhou, Shenzhen, Zhuhai and Dongguan.　　Xiaoming, general manager of the bank's international Business department, said the pilot enterprise must have the rich international settlement business experience, observes the finance and taxation, the commerce, the customs and the foreign exchange management each stipulation, the credit is good, truthfully registers, the real capital contribution, and has the actual place of business in the provinces and cities, complies with the Cross-border trade renminbi settlement's specific stipulation.　　For the pilot enterprises in the territory, the Cross-border trade in the introduction of renminbi settlement, but also a monetary stability of the currency choice, low-cost, efficient international trade.　　Xiaoming to CBN reporter said, because the renminbi settlement does not include in the foreign exchange write-off management and the foreign debt quota management, whether is the import or the export, the enterprise does not need to submit the write-off form, the export goods still can enjoy the tax rebate, the enterprise trade cost has reduced, the trade efficiency also has improved. Lianping, chief economist of the bank, said that the import and export enterprises and the financial market to invest in different institutions, the main consideration of import and export enterprises is not from the foreign exchange earnings, but to allow trade activities to smooth healthy and stable development, locking exchange rate risk.　　After the use of renminbi settlement, from the exchange rate point of view, may reduce some profit opportunities, but the financial will be very stable, enterprises in the contract before signing can understand the cost and revenue of the transaction, can be the main focus on production operations.　　The bank related Personage said, from the bank to grasp the situation, has the Cross-border trade renminbi to settle the domestic import enterprise and the export enterprise's quantity basically is equal, but the import enterprise's contract amount is higher than the export enterprise's. For the foreign enterprises using RMB settlement, xiaoming that the RMB is stable for a long time and the foreign enterprises choose RMB as the settlement currency, which can also prevent the exchange rate risk in a certain extent. In addition, Chinese enterprises are more willing to choose the renminbi as the settlement currency, such as foreign enterprises can choose the renminbi as the settlement currency, can further expand the market, in the contract negotiations to enhance the wordsLanguage rights.