Central Bank: Continue To Promote Cross Border Trade RMB Settlement Pilot Work

China People's Bank of China The 2010 international financial market report points out that the future will continue to promote cross-border trade from facilitating trade and investment facilitation, expanding the role of RMB in cross-border investment and financing, and promoting the opening and development of the market for RMB price products. RMB Settlement pilot work.

First, continue to facilitate trade and investment facilitation. The report points out that we should improve the acceptable degree of RMB's overseas and optimize China's external policy. Trade The geographical distribution of investment focuses on promoting the use of RMB in countries and regions closely related to China's economic and trade ties. We will continue to increase the number of pilot areas and pilot enterprises in China, and unify the pilot policies for border provinces and provinces, so as to meet the needs of trade and investment facilitation.

The two is to expand the role of RMB in cross-border investment and financing. The report pointed out that we should do a good job in the pilot work of RMB settlement for offshore direct investment, and continue to promote foreign investors' direct investment in yuan. Banks are encouraged to issue Renminbi loans to enterprises or projects invested abroad by domestic institutions in accordance with relevant regulations, and support Chinese financial institutions to provide RMB financing services for local economic entities overseas, and support enterprises to "go out".

The three is to promote the opening and development of RMB marked products market. The report points out that it is necessary to expand the bond issuers of the bond market and allow overseas enterprises and institutions outside the international development institutions to issue RMB bonds in the interbank bond market. We should steadily expand the scope of overseas investment entities in the interbank bond market. To promote cross-border trade in RMB settlement of foreign banks to enter the inter-bank foreign exchange market, encourage interbank foreign exchange market business and product innovation. We will study domestic banks to set up a pilot business for clients of foreign currency holders. We should study the measures to gradually open the securities market, futures market and gold market to the holders of RMB outside China. We should further unlock the mechanism of the return of overseas RMB funds through the financial market.

The four is to continue to support the development of Hongkong's RMB products market. The report holds that the development of RMB products market in Hongkong is conducive to consolidating and upgrading the status of Hongkong's international financial center, promoting Hongkong's long-term prosperity and stability, and conducive to the cross-border use of RMB. The report said that the next stage should continue to support the steady and healthy development of the RMB market in Hongkong under the premise of controllable risks.