三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

chinadaily.com.cn
left corner left corner
China Daily Website

Cross-border yuan settlement surges

Updated: 2013-06-08 02:23
( Xinhua)

KUNMING - The yuan is now being used more often in cross-border settlements, although challenges still remain.

China's central bank, the People's Bank of China (PBOC), highlighted the role of southwest China's Yunnan province in stimulating yuan-denominated business at the China-South Asia Expo, which opened Thursday in the provincial capital of Kunming.

Yunnan saw its cross-border yuan settlement hit 46.1 billion yuan (7.3 billion US dollars) in 2012, a local official said Friday.

Six commercial banks in Yunnan have signed settlement agreements with their counterparts in nine countries, including Vietnam, Laos, Thailand, Myanmar and Singapore, said Liu Guangxi, director of the provincial financial office.

Li Zezhi, deputy director of a yuan settlement group at the Yunnan branch of the PBOC, attributed the settlement surge to strengthened investment abroad.

However, there are still obstacles in promoting cross-border yuan settlement, Liu explained.

As a key area for enhancing yuan-denominated activity conducted with South Asia, Yunnan has had problems related to backflow, cash limits and policy support.There is still a lack of channels for purchasing the yuan, as it suffers from a higher cost overseas due to the prevailing use of the US dollar in settlements between China and neighboring countries.

The maximum amount of cash one is allowed to carry when entering and leaving China is 20,000 yuan, restricting the currency's popularity.

Currently, the yuan is convertible for trade purposes under the current account, while the capital account, which covers portfolio investment and borrowing, is still largely controlled by the state over concerns of abrupt capital flows moving in and out of the country.

The central bank on May 2 unveiled a guideline for foreign investors' yuan-denominated activity in mainland equity markets, moving a step closer in opening the country's capital markets and promoting the yuan's overseas use.

The guideline on the implementation of the Renminbi Qualified Foreign Institutional Investor (RQFII) pilot scheme is part of PBOC's latest efforts to regulate a potentially booming market with the backflow of yuan from overseas.

China launched the RQFII program in December 2011, initially allowing a maximum of 20 billion yuan in exchange-traded funds raised offshore to be invested in the domestic capital market. It has gradually raised the total RQFII investment quota to 270 billion yuan in domestic capital markets.

Xiao Gang, the new chairman of the China Securities Regulatory Commission, is expected to further open the market to international investors by expanding the RQFII program.

Yum Sui Sang, president of Cambodian Union Commercial Bank, said yuan-based settlement is an inevitable trend in the Greater Mekong Sub-region (GMS).

The GMS is a natural economic area bound by the Mekong River. It covers 2.6 million square km and is home to around 326 million people in Cambodia, Vietnam, Myanmar, Laos, Thailand and China's Yunnan Province.

8.03K
 
...
...
...
主站蜘蛛池模板: 九色在线免费观看 | 欧美成人黑人xx视频免费观看 | 三级小视频在线观看 | 91久久精品午夜一区二区 | 欧美精品一区二区三区免费观看 | 精品国产999 | 男女啪啪成人免费网站 | 一级毛片不收费 | 老妇女毛片 | 免费国产草莓视频在线观看黄 | 欧美一区二区三区gg高清影视 | 亚洲精品美女久久久 | 97欧美在线看欧美视频免费 | 亚洲色播永久网址大全 | 91精品国产91久久久久久最新 | 国产成人高清亚洲一区91 | 日韩国产精品欧美一区二区 | 黄视频在线观看免费视频 | 高清性色生活片a | 欧亚毛片 | 日本aaaaa高清免费看 | 国产页 | 自怕偷自怕亚洲精品 | 国产成人精品福利网站人 | 成人午夜国产福到在线 | 久久午夜青青草原影院 | 国产免费一级高清淫日本片 | 国产毛片一级aaaaa片 | 麻豆传媒免费入口 | 67194欧美成l人在线观看免费 | 日韩精品一区二区三区中文3d | 欧美黄视频网站 | 欧美日韩国产高清 | 亚洲一区精品视频在线 | 九一在线完整视频免费观看 | 亚洲第一黄色网 | 日本乱人伦毛片 | 欧美一区二区三区视频在线观看 | 国产高清一区 | 国产精品手机在线亚洲 | 伊人网综合在线观看 |