RMB cross-border Trade settlement pilot will ease the increase in pilot enterprises

BCC Beijing March 1 News According to the Chinese voice of the "Yang News" 9:45 reported that in 2010, the Cross-border trade renminbi settlement pilot work will be further widened.　　Media reports, the current state authorities have agreed to no longer the Cross-border trade renminbi settlement of the foreign geographical restrictions, the pilot area with the qualification of foreign trade enterprises can be in accordance with the law of the import trade settlement. The South Daily reported that the trial of renminbi settlement in cross-border trade would be eased in some respects. First, the pilot business is not subject to foreign geographical restrictions, the current state has agreed to no longer cross-border trade in renminbi settlement of the foreign territory restrictions.　　As long as the other country's enterprises are willing to accept, domestic will support foreign trade enterprises to use renminbi cross-border settlement. Second, the full opening of the import trade renminbi settlement pilot, for the pilot city all enterprises as long as the foreign trade operation qualification, can carry out cross-border trade renminbi settlement. Due to the relative export trade, the import trade renminbi settlement business procedures simpler, so domestic enterprises import trade to pay RMB enthusiasm.　　Guangdong Province also stressed that the provinces, especially the non-pilot areas to the import trade renminbi settlement business as a breakthrough, accelerate the big renminbi settlement business. Third, increase the number of pilot enterprises. The Guangdong provincial government has now reported the second batch of 3,293 pilot companies to the relevant government departments for approval. At the same time began the third batch of pilot enterprises screening work.　　Guangdong Province's request is that all enterprises have cross-border trade in renminbi settlement needs, the bank branches can be done first, in the operation of the development process of the step-by-step norms.　　Finally, according to the business requirements of the pilot enterprises in the previous period, the relevant departments of the State have expressly allowed the pilot enterprises to settle the Cross-border service trade in renminbi, and to make an attempt to direct investment in RMB cross-border settlement business under capital. Last July, the renminbi settlement of Cross-border Trade began in Shanghai, Guangzhou, Shenzhen, Zhuhai, Dongguan five cities pilot. From the data from Shanghai, as at the end of 2009, the Shanghai total RMB import and export settlement Business 118, the total amount of 2.135 billion yuan. Although relatively small, but the renminbi in cross-border trade in the settlement of currency function has been a certain recognition and acceptance.　　Guangdong Province Financial Office statistics show that up to the middle of February this year, the whole province to handle Cross-border trade renminbi settlement Business 567, the amount of 5.655 billion yuan. Although the pilot was limited to the Hong Kong and Macao regions and the ASEAN region, and only 500 enterprises to take the lead in the pilot, but in practice, for many enterprises in need and the demand for foreign businessmen, Guangdong or in accordance with the actual needs of the situation as appropriate. According to the People's Bank of China Guangzhou Branch president Roberts, affected by a variety of reasons, the current pilot business in Guangdong, the number of enterprises is still very limited, the overall size of the settlement is small, and the expectations of the community have a certain gap. In this regard, it is also necessary to further relax the pilot work on cross-border trade settlement of RMB.