RMB settlement of cross-border trade to expand to nationwide implementation in the industry view, the move highlights the Chinese government's determination to promote the internationalization of RMB Jinan as the second batch of pilot cities, the RMB settlement of cross-border trade has been implemented for more than six months, how?

Half of which surpassed the ten billion mark

RMB settlement of cross-border trade can be described in Jinan is a lively opening. Only six months, the volume of business to break through the 100 billion mark.

Chinese yuan cross-border trade settlement was officially launched in July 2009, June 2010, was included in the expansion of the pilot areas in Shandong, Qingdao finalists until last December, Jinan City, only 349 companies in the National Administration of Taxation issued The list of second batch of pilot enterprises, accounting for the city's one-third of export business enterprises.

Reporters from the People's Bank of Jinan Branch Office of Management learned that as of June this year, Jinan cross-border settlement amounted to 10.19 billion yuan RMB, there are 14 banks, 36 branches for a total of 81 enterprises for all kinds of cross-border 286 RMB business pen which, Jinan Iron and Steel Co., Ltd. imported a total of 39 pen of iron ore, the amount of 4.49 billion yuan, accounting for the total cross-border settlement of RMB 44.6%; China Heavy Truck (Hong Kong) Limited in Hong Kong successfully issued 2.7 billion yuan bonds; Shandong Gold Group Co., Ltd., Shandong Marine Co., Ltd., Shandong Shanshui Cement Group Co., Ltd. have opted for foreign direct investment in the RMB settlement.

It is worth mentioning that the cross-border trade in Jinan renminbi business enterprise outside the settlement area from Singapore and other neighboring countries and regions and gradually extended to France, the United States and 16 countries and regions.

Jinan, the practice shows that the RMB is increasingly welcomed by international trade.The HSBC recently released a 21 markets for more than 6,000 global trade business survey also showed that the yuan is expected to surpass the first pound, a global trade company in the future consider using one of the three major settlement currency in the China, the year is expected to exceed RMB settlement of the euro became the currency trading business second choice, second only to U.S. dollars.

Serious imbalance in the proportion of import and export settlement

However, by comparing the amount of import and export business can clearly see that the current cross-border trade in Jinan City, the RMB clearing business, imports occupy a leading position in clearing, settlement preached export deserted bleak situation.

According to IRS statistics, Jinan City, the end of June, Jinan City, only four export enterprises to develop export trade in RMB business, total export value of 2.83 million yuan, mainly in chemical products and steel balls and other products, also export to South Korea , the Philippines, Vietnam and other neighboring regions or countries.

Hundreds of billions of yuan relative to the settlement of the total size of cross-border trade, export volume was less than 3 million, is almost negligible. So, what is the ratio of import and export settlement causes such a serious imbalance in it?

"RMB continues to appreciate the pictures." Hiromasa Technology Co., Ltd. Jinan financial officer Gu Wen-ying gave away, "the beginning of the central parity of RMB against the U.S. dollar, or 6.62 yuan, but now is 6.4 yuan a in the case of continuous appreciation of Renminbi, China enterprises in the import of goods, of course, willing to accept foreign RMB, but in turn, export goods, so that foreign investors pay a bit difficult for the yuan. "

China Heavy Duty Truck Group Jinan Import & Export Co., Ltd. is the largest export companies, financial manager, Lu Changbin told reporters,They are very willing to use the RMB and foreign customers, but suffer from a lack of other hands RMB, not paid in full.

Similar to the situation with Jinan, China RMB settlement elsewhere in the volume of business is most concentrated in the import of HSBC Bank in Jinan and other 18 cities in China to corporate customers a wide range survey found that nearly 25% companies that are reluctant to accept foreign trade Party RMB, there are more than 11% of businesses in the local foreign trade bank is not square or can not provide adequate support.

In this regard, some experts point out that this situation has not only brought the issue of currency substitution, the last two years China's foreign exchange reserves as an additional factor can not be ignored, but also Chinese enterprises in international trade is not reflected in the discourse.

A first export tax rebate to break the psychological ice

"Declaration of mid-June, the month 30 gone through, Forging Co., Ltd. Jinan Xin-resistant export using a 472,000 yuan RMB, immediately got 2.4 million in export tax rebates." Jinan IRS management import and export tax Director Du Baohua happily told reporters, "Do not look at the small amount of this rebate, but it is a pilot cross-border trade, RMB Jinan since the export tax rebate upfront business, definitely has a milestone, because it tells the export business, with RMB not only usual tax, and faster for everyone to eat teeth reassurance. "

Du Baohua told reporters: "The original export tax rebate is based on the creation of foreign exchange, based on the foreign exchange shortage when our nation, but now the country has ample foreign exchange reserves, the state out of the renminbi as an international currency of purpose, even if foreign companies are not foreign exchange, back of the yuan, but also give tax rebates,This is a tax rebate system, a breakthrough."

"For foreign trade enterprises, the export tax rebate is crucial, and even can be said about the survival of enterprises, because this is our business in international markets where the profit point." Du Baohua said before resistance Xin, Jinan City, also did not use the precedent of the RMB settlement of export tax rebate so many foreign companies are waiting and watching.

"Although with the RMB exchange rate will help us avoid the risk, reduce exchange rate costs, but after all, is a new policy, which once as part of a problem, let alone can not lead to tax refund, even if Debu is back in time, at one month, then this loss of our business is difficult to bear. "Hiromasa Technology Co., Ltd. Jinan Gu Wen-ying financial officer bluntly," The Jinan Xin resistance can successfully get the export tax rebate, indicating that the entire process in order, we boosted the RMB settlement confidence. "

According to reports, nearly two months of Jinan Hiromasa exports to Southeast Asia, 12 single, all cross-border settlement with the RMB.

This articlefrom:China Trade Information (http://en.zgxu.com),please refer to the above Web site for more.