RMB Settlement Priority List, More Than 1700 Enterprises In Zhejiang Lighten The Burden

"The exchange rate has gone up again."

See the foreign exchange rate shown on the computer, Wenzhou

Recently, cross-border trade

RMB settlement, priority order

"More than a year has been applied for the pilot project. Recently, we have tried out a business and promoted it again."

Yesterday, the financial manager of Jindi Shoes Co., Ltd., manager, was a bit excited on the phone.

He said the business is cross-border trade RMB settlement, the company's first batch of local applications in Wenzhou, one of the pilot enterprises.

"It's hard to convince German customers to try it this time."

Weng manager said that the customers of Jindi shoes mainly concentrated in Germany, Finland and the United States, and had been settled in US dollars.

In June this year, the old German customer and Jin Di shoes signed a RMB settlement agreement, with a batch of goods as a pilot project.

Mr Weng calculated that the contract price of the single shoes signed by the enterprises and foreign businessmen was 6.65 US dollars / double. According to the exchange rate of RMB to us dollar 6.45:1 on that day, the cost of the pair of shoes to the enterprise account was 42.89 yuan.

The goods have been declared at the end of the month, and they will be credited at the end of the month.

According to the US dollar settlement, according to the exchange rate of RMB to US $6.374: 1 yesterday, the actual amount of money arrived was only 42.3871 yuan, and the difference between a pair of shoes was 0.5 yuan, and the goods had more than 7000 pairs of shoes.

"In order to avoid exchange rate risk, we will adopt a long-term lock in rate, but every time the RMB appreciation will be faster than expected."

This year, the yuan has appreciated more than 3% against the US dollar.

"After the RMB is settled, there will be no such problem."

Weng manager said that the premise is that customers are willing to accept.

According to the regulations, the other side will open renminbi accounts in Hongkong.

Taizhou Tai Jiang Shoes Co., Ltd. is the first 19 foreign trade enterprises to apply for cross-border.

Most customers do not "catch a cold".

I also learned in the interview that most enterprises still have obstacles in cross-border RMB settlement.

"The number of peers around us is too small to settle in Renminbi, which is hard for most foreign businessmen to accept."

Weng manager said.

"The wishful thinking of enterprises is useless. The problem is that customers are not interested."

Jiang Yimin is the chairman of Zhejiang new great group.

As one of the first batch of pilot enterprises for RMB settlement in cross-border trade in Zhejiang, the group has so far not implemented a RMB settlement business.

Zhejiang Rui import and Export Co., Ltd. is also responsible for the same person.

Considering the acceptability of customers, they have chosen to implement them among customers with a cooperation amount of more than 1 million yuan, but the effect is still not obvious.

"To tell you the truth, the main reason is that customers find it difficult to settle accounts in Renminbi, and the profit margin is not very large."

And in the European and American markets with mature cooperation mode, if we want to reverse, unless there is great attraction.

Foreign businessmen are counting accounts too.

Although cross-border RMB settlement has started to thrive, there are still many bottlenecks.

First of all, overseas buyers, especially those from developed countries in Europe and the United States, do not accept RMB very well.

"Not only are we doing accounts, but foreigners are also doing accounts, because the appreciation of the renminbi is a general direction, so foreign investors are reluctant to take the risk of exchange rate pfer from Chinese enterprises."

Wenzhou City Foreign Trade and Economic Cooperation Bureau official said.

At the same time, the total amount of settlement since the trial is relatively small.

According to the data of the Provincial Department of Commerce, the total settlement volume of goods trade (excluding trade in services settlement) in the first half of Zhejiang is less than 4% compared with the total volume of import and export trade in the same period.

In the first half of this year, there were 1748 enterprises in the whole province, which were more than 40 thousand import and export enterprises and 6709 first export pilot enterprises in the whole province.

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Zhang Handong, director of Zhejiang international economic and Trade Research Center, said that at present, more than 90% of domestic and foreign trade settlement is settled in US dollars.

Trade settlement based on US dollar makes a large number of foreign trade enterprises have been affected by the fluctuation of foreign exchange, and even seriously compresses the profit margins of enterprises. However, under the premise that RMB is not the prevailing currency, it is difficult for small and medium-sized enterprises to promote RMB settlement.

From another point of view, the lack of pricing power and the right to speak are also the key reasons for the current export of Zhejiang.

More than 1700 enterprises in Zhejiang lose 150 million yuan.

From the Hangzhou branch of the people's Bank of China, the total settlement amount of cross-border RMB business in the first half of this year has exceeded one hundred billion yuan mark, reaching 100 billion 587 million yuan, which is 8.2 times the amount of settlement in 2010.

In particular, since April this year, the total monthly settlement volume of cross-border RMB trade in the province has ranked fourth in the country, and the total settlement volume has risen to fourth in the first half of June.

As of the end of 6 this year, Zhejiang has accumulated cross-border RMB settlement business with 58 countries and regions.

At present, more than 1700 enterprises across the province have tried to use RMB settlement in cross-border pactions. According to preliminary estimates, the use of RMB settlement in the first half of this year has at least saved or reduced the exchange cost and exchange rate losses of more than 150 million yuan for enterprises.