Shandong's Foreign Trade Has Entered The Era Of RMB Settlement.

Abstract: do Exit Business can also cross the border with RMB. Recently, much attention has been paid to cross-border. Trade The list of RMB settlement pilot enterprises was officially released, and nearly eight thousand export enterprises in Shandong received pilot qualification. According to the introduction, compared with foreign exchange settlement, the use of RMB settlement is the most. enterprise Save 5% of the cost.

For export business, you can also use RMB to cross border settlement. Recently, the list of the most important cross-border trade RMB settlement pilot enterprises officially came out, and nearly eight thousand export enterprises in Shandong were given the pilot qualification. According to the introduction, compared with foreign exchange settlement, the use of RMB settlement can save 5% of the cost for enterprises.

Reporters learned from the provincial commerce department on the 8 day, in the list of the 67359 RMB export settlement enterprises that have just been announced, there are nearly 8000 export enterprises in Shandong, including textile, medicine, chemical industry and many other industries. These pilot enterprises can carry out the RMB settlement experiment of export goods trade in accordance with the "cross border trade RMB settlement pilot management measures" since December 3, 2010.

It is reported that these pilot enterprises are jointly audited by the people's Bank of China, the Ministry of finance, the Ministry of Commerce, the General Administration of customs, the General Administration of Taxation and the Banking Regulatory Commission. Their cross-border trade settlement is not included in the management of foreign exchange verification. "In the early stage, we screened more than 400 export enterprises in Ji'nan according to the right to speak in the international market, customer distribution and export volume." According to a person in charge of the trade and Development Bureau of Ji'nan Commerce Bureau, the use of RMB settlement in cross-border trade is not only simpler, but also can reduce transaction costs and avoid exchange rate risks. "Exporters sometimes have to ship for a period of time before they can get the payment. If the renminbi appreciated during this period, it would be equivalent to the depreciation of the US dollar that the enterprise got. The above official said that compared with foreign exchange settlement, the use of RMB settlement can save enterprises at least 5% of the cost.

"The fluctuation of exchange rate is a whole body to the foreign trade business, and the profit that the enterprise is not very high will also be greatly affected." According to the person in charge of an export enterprise in the province, exchange rate fluctuation has brought hundreds of thousands of yuan loss to the company, and the company hopes to settle RMB very much. But what he worries most is that overseas customers do not accept it.

In this regard, the above director of the Municipal Bureau of commerce also said that it is still a process for enterprises to settle accounts in accordance with the RMB. So many enterprises that have obtained pilot qualification can not enjoy the benefits of RMB settlement all at once. It also depends on the right to speak in the international market and the competitiveness of export products. But in the long run, RMB settlement is definitely a trend.