RMB cross-border settlement today in Shanghai signed the first single

Bank of China and BOC Shanghai Branch will complete their first business, which means that the renminbi from the currency to the settlement of currency cross-border trade renminbi settlement business since the start of the "first single" Flower fall whose home is attracted attention. Yesterday, reporters from the Bank of Communications, Bank of China Shanghai Branch learned that the two in the field of international settlement has a leading advantage of commercial banks, will be today respectively with Shanghai Silk Group, Shanghai Electric Group signed next trade renminbi settlement business Agreement,　　This indicates that China's cross-border trade renminbi settlement business officially entered the real stage of operation, and the international status of the renminbi will be raised from the valuation currency to the settlement currency. Yesterday morning, the reporter learned from the Bank of communications, today, Shanghai Silk Group will start the first renminbi cross-border trade valuation and settlement business, the buyer for China Trade (Hong Kong) Co., Ltd., Shanghai Silk Group to provide the first single renminbi cross-border remittance settlement services.　　On the same day, Bank of communications will also accept Shanghai HuanYu Import and Export Co., Ltd. entrusted to Remit Informer pen in renminbi cross-border pricing and settlement of remittance business. At the same time, BOC Shanghai branch of the "Cross-border Trade RMB Settlement Initiation ceremony" was also held this morning, BOC Shanghai Branch will receive the first Cross-border trade renminbi settlement from Hong Kong, the beneficiary of Shanghai Electric Group under the Shanghai Electric International Economic and Trade Co., Ltd., Remitted by the company's business partners in Hong Kong.　　On the same day, BOC Shanghai Branch will also be with Standard Chartered Hong Kong, East Asia Bank, Singapore Overseas Chinese Bank and other 11 overseas agencies to sign the Renminbi trade settlement liquidation Agreement, open a renminbi settlement account, and 17 BOC overseas branches open a renminbi clearing account. Lianping, chief economist of the bank, said: "The first single landing in Shanghai for cross-border trade in renminbi is a major impetus to Shanghai's construction of an international financial centre, directly prompting the development of the Shanghai International Settlement Center," and "RMB cross-border settlement will make domestic commercial banks more competitive in overseas markets." Guo, director of the Cufe Banking Research Center, said that the pilot study of RMB settlement in Cross-border trade will promote the process of RMB internationalization, on the micro, the RMB in the pilot city to implement trade settlement, the export enterprises to reduce transaction costs, but also to the enterprise to some extent to avoid exchange rate risk.