Export goods trade RMB clearing pilot enterprises soared to 67359

Participate in cross-border trade RMB clearing pilot of exporting enterprises the explosive expansion occurs. People's Bank of China 6, said recently that the people's Bank of China, Ministry of finance, Ministry of Commerce, customs, tax administration and the CBRC joint accreditation Beijing, Tianjin, Inner Mongolia, Liaoning, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Guangdong, Guangxi, Hainan, Chongqing, Yunnan, Sichuan and 16 provinces (autonomous regions and municipalities) total 67359 enterprises to participate in the settlement currency for trade in goods for export.

Previous participation in the pilot's export enterprises only 365 home. The Central Bank said the pilot enterprises expansion will further promote the export of goods trade RMB clearing business development, promoting trade and investment facilitation.

The Central Bank said the pilot enterprises since December 2010 date 3 may, in accordance with the cross-border trade RMB clearing pilot management measures "in the export trade in goods, RMB clearing pilot in accordance with the relevant provisions of the export declarations, and enjoy exporting goods back (avoid) tax policy.

Since 2010 the settlement of cross-border trade in RMB, the pilot expansion cross-border trade RMB clearing business stationary faster growth. From June to November, the regional banks for cross-border trade RMB cumulative settlement business 3400 billion, is the pilot extended the former settlement of more than seven times.

Analysts said the settlement of cross-border trade is conducive to effective currency hedge exchange rate risks, saving the company twice in the exchange rate of the exchange costs, saving enterprises to avoid the risk of exchange rate for currency derivatives trading of the relevant charges. Cross-border trade with RMB clearing also can speed up the settlement rate, increase the Fund use efficiency. Cross-border trade RMB clearing also promote renminbi internationally as valuation, settlement currency as part of its function, in the long term contribute to RMB regionalization and globalization.