As of mid May, cross-border RMB trade settlement amount to nearly 50 billion yuan, out of the early cold trough. This is preparing to expand the pilot of the central bank and other six ministries, is a good opportunity to promote.
Overwhelmed by the expansion of the pilot has three layers of meaning, one is expansion of the pilot enterprises in Guangdong, Shanghai; second pilot settlement outside the regional expansion, namely from Hong Kong and Macao, ASEAN expanded to all countries and regions; three is the pilot provinces and cities expand, on the basis of 5 cities, expanded to 14 provinces (autonomous regions and municipalities directly under the central government).
Reporters recently informed that the content covers the on expanding the pilot RMB settlement of cross-border trade related issues notice "(Draft) has been in early may by six ministries and commissions, is currently in the country to seek the views of the stage. People familiar with the matter said, after the summary Comments and perfect, will strive to implement as soon as possible.
16 provinces "blossom everywhere"
5 months, to the south of the Silk Road and the friendship between China and Vietnam, Pingxiang, Guangxi, is famous for cross-border trade RMB settlement pilot. This is just the domestic cross-border trade RMB settlement pilot is about to expand the 14 provinces involved in a silhouette.
Recently, by the peoples Bank of China, the Ministry of finance, Ministry of Commerce, General Administration of customs, the State Administration of Taxation, the banking will six ministries jointly issued the "on the expansion of the pilot RMB settlement of cross-border trade issues related to notice" (Draft), approved by the State Council, agreed to expand the scope of the pilot RMB settlement of cross-border trade to 14 provinces (autonomous regions and municipalities directly under the central government), including Beijing, Tianjin, Inner Mongolia, Liaoning, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Guangxi, Hainan, Chongqing, Sichuan, Yunnan.
In fact, overwhelmed by the pilot to expand the trend, the Central Bank Deputy Governor Su Ning at the end of 3 in Shanghai, held in the Yangtze River Delta financial forum has been implied. He said at the time, the country has a number of provinces and cities to join the pilot, but also hopes to expand the pilot outside the region, the relevant departments are studying. Into the early 5 the draft issued from Suning speech, just more than a month time.
July 6, 2009, 7, the official opening of cross-border trade RMB settlement pilot only Guangzhou, Shanghai, Shenzhen, Dongguan, Zhuhai 5 cities, a total of only 365 pilot enterprises. This is not only in Guangdong and Shanghai was "not satisfied", let the other provinces drool with envy.
But the other parties in this regard placed infinite expectation when, 3 months after the central bank announced cross-border trade RMB settlement amount is only 70 million yuan of the data, let the market surprise. As of August 28, 2009, in the amount of RMB settlement pilot enterprises in Guangzhou Export payment amount is only 7%, still less than the same period of import and export volume fraction. In 2008, Guangdong Import and export trade volume reached US $408 billion 280 million with entrepot trade.
At this time produced two voices. One is improve Hong Kong RMB offshore center position, to allow foreign enterprises are concentrated in Hong Kong trading with Wuliubaiyi RMB circulation and to solve the source problem of RMB of foreign enterprises, the renminbi as the settlement currency for success will come when conditions are ripe. But the meaning of RMB settlement is not restricted to Hong Kong and therefore continue to expand the pilot projects for the use of the renminbi in the voice of was put on the agenda.
This voice of Guangdong, Shanghai, the first pilot enterprises to expand. 2009 9 months, Shanghai, the second batch of 900 pilot enterprises listed on the list; in February 2010, Guangdong, the second batch of 3293 pilot enterprises listed on the report. Followed by the expansion of the pilot outside the region, but not limited to China, Hong Kong and Macao and the ASEAN region. Furthermore, the other provinces and cities, is to have written to the six ministries, hoping to expand the pilot provinces and cities.
Fortunately, the three voices are being adopted. The draft, said the cross-border trade settlement of the RMB offshore region from Hong Kong and Macao, the ASEAN region to expand to all countries and regions. At the same time increase the number of pilot enterprises in Shanghai and Guangdong Province, the number of export of goods trade, cross-border trade in Guangdong Province, the RMB settlement does not limit the pilot cities. This means that the first batch of pilot cities in Foshan and other cities, is about to join.
In addition, the draft also said that in the aforementioned 14 province (autonomous regions and municipalities directly under the central government), RMB settlement of cross-border trade does not limit the pilot cities, which means that everywhere in the future will become the norm. However, will continue to implement the pilot enterprise management system, the list of 14 regions submitted to the pilot enterprises need to be approved by the six ministries.
50 billion settlement amount acceleration
In fact, the expansion of the pilot cross-border trade has been limited to the aforementioned 14 provinces (autonomous regions and municipalities directly under the central government). According to the draft, the new increase of 14 province (autonomous regions and municipalities directly under the central government), previously had been the pilot of Guangdong and Shanghai and Jilin, Heilongjiang, Tibet, Xinjiang, a total of 20 pilot province (autonomous regions and municipalities directly under the central government) has the qualification of import and export business of enterprises, can yuan import trade in goods, cross-border trade in services and other current account settlement.
The draft also said that all enterprises in Inner Mongolia, Liaoning, Jilin, Heilongjiang, Guangxi, Yunnan, Tibet, Xinjiang and other eight Frontier Province (autonomous region), in the designated port and adjacent to the states general trade and border trade in small amount export goods to carry out the pilot RMB settlement in cross-border trade. And the provisions of the 2010 December 31 recently the RMB settlement for refund (Exemption) to receive foreign exchange management department issued by the verification of export collection; since January 1, 2011, by the cross-border RMB receipts and payments information management system (RCPMIS) for such trade to implement nuclear note management will no longer produce a single export verification.