For them, upgrade and enhance the development of strength is the last word. However, there is no way to short-term victory, in appreciation of the RMB, iwc
the adjustment for small and medium exporters gain time? See the topic in the first business intelligence countermeasures.
Shanghai textile industry as one of the best foreign trade companies, Pegasus is the first trial in 2009 cross-border transactions settled in RMB business. Pegasus company is welcome to use the RMB, because it can avoid appreciation of the risks, reduce intermediate exchange links, save a lot of transaction costs. In general, exchange risk cost about 2% of total trade. In addition, bank settlement, business to give banks a lot of money to pay the fee, but if settled directly with the RMB, you can save this piece of cost.
However, the RMB settlement is not an enterprise want to use can be used, also depends on the customer with the program. Pegasus is currently only 15% of the foreign trade business use of the RMB settlement, the parties are mostly customers in Hong Kong, the majority of businesses still use U.S. dollars. “There can not be settled in RMB to expand the promotion side, Europe and the United States does not accept RMB customers.” Mao Xiahua description.
The data from the central bank also showed that the pilot year of cross-border transactions settled in RMB in China outside Hong Kong and Singapore are the main areas to accept RMB, the actual receipts in the event of RMB business, the two together accounting for 88%.
However, the Bank of China Deputy Governor Hu Xiaolian July 19 has revealed that since early 2010, the amount of cross-border trade has reached RMB 70.6 billion yuan. Yuan in Guangdong Province the largest cross-border trade oris
transactions the Bank of China Guangdong Branch, for example, at the end of June 2010, has handled cross-border trade in business more than 7 billion yuan RMB, its products include remittance, collection, credit, financing and NRA accounts and other varieties.
RMB began to international trade settlement, for the development of the renminbi is significant, which means that the internationalization of RMB regionalization and even start this journey. Although this is easier said than done, in the end is also a breakthrough.
Central to vigorously promote the RMB, in 2009, Shanghai, Guangdong to launch cross-border trade, RMB pilot basis, June 22, 2010, the RMB settlement of cross-border trade within the region expanded to 20 pilot provinces (autonomous regions and municipalities).
However, the reporter found that some exporters have interest in not high. The conduct of the business has a constraint – both sides must have the RMB. But the foreign imports from China, no offshore renminbi overseas markets, overseas customers hand, if the yuan is not enough, can not do this business.