Including agriculture, engineering, construction, Bank and other banks, including 16 companies currently may accept applications for cross-border trade in RMB, the export enterprises recommended the pilot has completed initial work to RMB for foreign trade enterprises to save 2 % to 3% of the financial costs ... this is the reporter from the provincial government held the province recently launched cross-border trade, RMB television and telephone conference received the news.

RMB is a cross-border trade in RMB business and RMB clearing customs import and export trade settlement. To actively cope with the international financial crisis, to help companies avoid the dollar and other international settlement currency exchange rate risk, promoting trade and investment facilitation, 2009 month, the Shanghai and four cities in Guangdong, the first cross-border trade, RMB pilot. to August 23 this year, the business spread across the country, Hunan among them.

Currently, China allows foreign companies on a voluntary basis to the RMB settlement of cross-border trade. Many foreign trade enterprises of the province, the conventional settlement currency in recent years, the U.S. dollar against the yuan continues to appreciate, as the company increased the number of exchange rate risk and financial costs. promotion of the business since the pilot, the series system is designed to benefit from the RMB settlement of foreign trade enterprises has facilitated the reporter noted that the current cross-border trade, RMB is not included in foreign exchange verification management; use RMB's export trade would still be able to enjoy the provisions of export tax rebate policy; companies can export revenue of RMB deposited abroad; export receivables to be verified without access to accounts and so on.

The yuan in Hunan Province, "going out" enterprises, the business will help to avoid exchange rate risk, streamline processes links, and lower transaction costs, improve efficiency, strengthen cooperation with foreign enterprises to achieve international cooperation as the first early adopters of the business enterprise representatives,Zoomlion senior president Jianming said the biggest advantage is that the business can save the cost of price risk and foreign exchange, operating costs will help companies fine. Previously to avoid exchange rate risks, companies often need to handle a variety of financial derivatives to hedge exchange rate risk, for which to pay higher transaction costs. If the RMB settlement can be avoided.

For this reason, many foreign trade enterprises to greater enthusiasm for the business newspaper. Statistics show that as of June this year, the National Bank for cross-border trade accumulated 1.47 trillion yuan RMB business, including the first half of this year for 957.57 billion yuan, an increase of 13.3 times; pilot enterprises involved in export from the initial 365 to more than 67,000. correspondent Changsha branched from the human line that currently the province to submit applications for the export trade, RMB business in approximately 500 eligible export Recommended initial pilot enterprises to complete the work.

Reporters learned that the business is currently hot in the capital of banks, the banks competition is fierce. Expensed Changsha, People's Bank revealed that at present the province has 16 financial institutions business record. The date of the announcement, Bank of China provinces line on the Trinity, by such enterprises for the business, involving an amount of $ 6.8 million. Two days later, ABC Province Branch Office also through large-value payment system for clearing Zoomlion in line mode Hong Kong branch to handle the advance payment in RMB business.

This chaptersource:China Trade Information (http://en.zgxu.com),please visit the above web site source for more similar articles.