185 Times times expansion of cross-border trade RMB settlement Pilot Enterprise

From 365 to 67,359 185 times times across: Cao Jinling after the Cross-border trade renminbi settlement pilot region "territory" large-scale expansion, the central bank of the pilot export enterprises again a large round of expansion. The central bank announced yesterday that a total of 67,359 enterprises involved in the export trade of goods in the Cross-border trade renminbi settlement pilot.　　Before this kind of pilot enterprise is only 365. From 365 to 67,359, the pilot enterprise expansion 185 times times.　　Industry insiders believe that this will give Cross-border trade renminbi settlement business bring "leap-forward development." Pilot Export Enterprise expands 185 times times according to Central Bank Bulletin, the People's Bank of China, the Ministry of Finance, the Ministry of Commerce, the general Administration of taxation, the tax administration and the CBRC jointly audited 16 provinces (autonomous regions and municipalities) in Beijing, Tianjin, Inner Mongolia, Liaoning, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Guangdong, Guangxi, Hainan, Chongqing, Sichuan　　) A total of 67,359 enterprises to participate in the export of goods trade renminbi settlement pilot.　　The announcement said that the pilot enterprises from December 3, 2010 onwards in accordance with the "Cross-border trade in renminbi settlement pilot management measures" to carry out export goods trade renminbi settlement pilot, in accordance with the relevant provisions for export declarations formalities, and enjoy the export of goods (exemption) tax policy. Previously, the first batch of 365 Cross-border trade renminbi settlement pilot Export Enterprises in Shanghai, Guangdong Province, Guangzhou, Shenzhen, Zhuhai and Dongguan.　　As a result of the issue of export rebate (exemption), the list of export enterprises of the business still needs to be approved by a number of departments, not related to the issue of tax rebates import enterprises do not need to be approved.　　The central bank pointed out that the participation of the pilot export enterprises from 365 to 67,359, will further promote the export of goods trade renminbi settlement business Development, promote trade and investment facilitation. RMB settlement business or leap-forward development "this substantial increase in the number of pilot export enterprises, cross-border trade renminbi settlement business is another leap-forward development." "Lianping, chief economist at Bank of Communications, said yesterday in an interview with the first financial daily," one is a sharp expansion of the number of pilot enterprises, the second is a wider area coverage, has been extended from coastal cities to border trade areas.　　"It is noteworthy that the current cross-border trade in renminbi settlement of more than 85% of the amount is in the import business, this is because the list of domestic export pilot enterprises remain limited, on the other hand, because of the existence of medium-and long-term appreciation of the renminbi, foreign demand for the renminbi relatively strong."　　Lianping pointed out that the large expansion of the pilot export enterprises will make a breakthrough in export business, the growth rate and the proportion will be significantly increased. "This is certainly a good thing for exporters hoping to collect in renminbi." "A large state-owned bank, Shanghai branch of the International Business Department deputy senior manager, said relatively cautiously," but the personal view of the expansion of the volume of business is still to be seen, after all, the current Cross-border trade renminbi settlement is driven by import business, export enterprises are relatively low bargaining power, export single pen averageThe amount is less than the import.　　"To strengthen the supporting system, once the scale of RMB settlement of cross-border trade continues to increase substantially, the relevant supporting system will become the most important."　　The Deputy senior manager of the bank's international operations department said to reporters, for example, in the RMB non-resident account (NRA) opening, the current management approach only involves accounts and sales management, should be clear to the specific use of the account, income and expenditure range, counterparty and so on, the supervision of this is still in the research stage. "Whether the RMB NRA account funds can be used as a guarantee for the credit line, or as an offshore bank financing pledge to non-residents, or whether it is possible to buy foreign exchange through this account is a matter of concern to customers." "In addition, the yuan's return channel is also important."　　Lianping pointed out that with the rapid expansion of the renminbi Cross-border trade settlement scale, the use of investment areas will expand steadily, and foreign officials are expected to increase the renminbi as a reserve asset. In fact, the Cross-border renminbi settlement in capital terms has been done in a case of individual approval, including RMB foreign investment, foreign parent companies to domestic subsidiaries to expand their shares, the renminbi to pay equity transfer delivery.　　A banker told reporters that January-October this year, the Shanghai region, a total of 9 banks in the capital of Cross-border renminbi settlement, accumulated business settlement scale of nearly 3 billion yuan. "After the expansion of Cross-border renminbi settlement scale, first of all, will have a greater demand for domestic renminbi assets investment, existing investment channels including inter-bank bond market, and then the stock market will gradually open up, should be very good in the investment channels to be considered, to leave room for development, Otherwise, the enthusiasm of overseas non-residents holding renminbi will weaken.　　Lianping told reporters. "Second, the scale of the renminbi settlement in Cross-border trade flows in Hong Kong, including the interbank market in Hong Kong, where banks can lend money to the renminbi, and so on, and how the arbitrage of renminbi interest rates and exchange rates in the Hong Kong offshore market will be managed and gradually put on the table. Lianping continued.