Cross-border trade settlement up to trillions of all major banks have Beach

And export several trillion, cross-border trade for the purposes of RMB clearing for banks is a good cake. In the pilot cities expanded after nearly six months, banks have already take advantage of promoting the business, to take the lead in this competitive market in occupies a place.

All major banks have Beach

The Bank is like a group at the OTC Hunter, a chance, will take the layout.

Recently, this reporter has learned from the many Bank understood that in order to own regional lead push its own cross-border trade RMB clearing business, banks are scrambling to action.

The so-called cross-border trade RMB clearing, refers to the RMB RMB clearing customs declaration and to the export and import trade settlement. Its cross-border trade settlement services types including RMB/export letters of credit, collection, remittance and payment terms. In 2009, China in Shanghai, Guangzhou, Dongguan, Zhuhai, Shenzhen five cities take the lead in the settlement of cross-border trade RMB pilot, are enterprises and banks.

In the middle of last month, the people's Bank of China's external representation, my cross-border trade will be RMB clearing from the original five cities expanded to Beijing, Tianjin, Inner Mongolia, Liaoning, Jiangsu, Zhejiang, Fujian, Shandong, Hubei, Guangxi, Hainan, Chongqing, Sichuan, Yunnan, Jilin, Heilongjiang, Tibet, Xinjiang and other 20 provinces (autonomous regions and municipalities). It is reported that the pilot business scope includes the cross-border trade in goods, trade in services and other regular project RMB settlement; no longer limit the overseas regions, enterprises can use RMB market principles.

In this new release, banks immediately initiated intense action, have been carried out in the regional first cross-border trade RMB clearing.

The first action is a commercial bank of China, in cross-border trade RMB settlement expanded pilot region on the same day, ICBC beifen successfully to sinochem a subordinate enterprise for a sum of RMB import T/T payment business, became the first in Beijing to cross-border trade RMB clearing business.

But ICBC Shandong branch also in day to day for the customer for the cross-border trade 1.93 million RMB clearing business, accounting for 90 per cent of the province of Shandong. In addition, industrial and commercial bank of Jiangsu branch also serve international economic trading co., Ltd. Nanjing steel group for a business.

Bank of communications also in the business areas of the positive performance. This reporter has learned that the files in the expansion of the pilot, the Bank issued around the branch of rapid response, the row of Guangxi, Shandong, Qingdao, Ningbo, Wuxi city, Sichuan province, Dalian Branch leads the market, became the first local cross-border RMB settlement business for banks.

Read some local media coverage, it is not difficult to find, in the city to become a pilot, local commercial banks are quick start. This reporter has learned that especially in Zhejiang, Jiangsu and other foreign trade enterprises gather more intensive province, Bank have rapidly attack towards preemption customer resources. For example, in less than a week's time, Zhejiang Shaoxing city has three commercial banks for a more cross-border RMB clearing business.

Fiery momentum let banks with the same mind. In the pilot cities expanded policies of the day, the Bank has been in the Shandong Qingdao complete the line of the first cross-border trade RMB clearing brush. In a few days ago, Hubei light rich cotton co., Ltd. through HSBC Wuhan branch success to its registered affiliates pay a sum of cross-border RMB remittance. It is reported that prior to this, such operations must be remitted by HK.

Homeopathy and significant

And some of the Bank's business, cross-border trade RMB clearing on the Bank's international business areas are very important. Therefore, the banks along the policies introduced vigorously carry out this type of business, both for the Bank itself, or the policy itself is a very important significance.

Data show that last year, China's foreign trade and export more than 2.2 trillion. Such a big cake is, of course, banks are unwilling to let go of. It is understood that, as of now, only the Guangdong Province in the amount of cross-border trade has exceeded RMB 400 million Yuan.

"The Bank is a financial services industry, with new business launch of course as soon as possible, to occupy the market. "One of the Bank's internal staff on the securities Journal reporters.

"In fact, the Bank's business is the homogeneity of the competition, the differences in the initial period of time, then each row can do. Who'll do up to the first contact with the needs of customers, at the same time, generally after the initial communication flow, customers can choose the original Bank. "A bank's international business leader in turning this thing is so indicated.

Indeed, because before this block is the complete business, blank, set up in the pilot, the number of banks in this block of business is growing explosively. In the future, which could in this block-the Bank occupies a large advantage, the key in this months "pioneer". At the same time, the Bank actively cooperate to make this policy promoting very smoothly.

"Cross-border trade RMB clearing significance. On the one hand, this will help to strengthen China's economy, trade and investment ties. On the other hand, this will help further Renminbi exchange rate regime. At the same time, it also facilitates our banks in international business further maturation.