Cross Border Trade RMB Settlement Has Become The Touchstone For The Development Of Shoe Enterprises.

The international experience of September 13th shows that the pace of "going out" of a country's currency depends fundamentally on its comprehensive national strength and the competitiveness of transnational enterprises. The pilot of RMB settlement in cross-border trade is obviously China. footwear industry A touchstone.

Located in Wenling Hengfeng shoe gathering area, Taizhou Thai River Shoes Co., Ltd. is the first 19 foreign trade enterprises to apply for cross-border trade RMB settlement pilot enterprises. More than half a year, chairman Wang Jianglin felt a lot. He made an account of this: the contract price of shoes signed between foreign businessmen and foreign businessmen was 4 dollars / double. According to the exchange rate of RMB 6.599 against the US dollar at the beginning of the year, the cost of a pair of shoes to the enterprise's account was 26.396 yuan. At the end of April, when the delivery was made at the time of 6.499 to 1, the actual amount of money arrived was only 25.996 yuan, and the difference between the price of a pair of shoes reached 0.4 yuan, the greater the difference, the greater the difference. But when RMB is settled, there will be no such problem. "Now when I see a new client, I first ask him if he is willing to settle in RMB. If the other party is willing, he will take the order first." Wang Jianglin said.

Nowadays, more and more enterprises have tasted the sweetness of cross border trade RMB settlement as tajiang shoes industry. Statistics from the Hangzhou central sub branch of the people's Bank of China show that the number of participating enterprises has increased from the initial more than 90 to the end of 6 this year, and the settlement volume has also soared. The total settlement amount in the first half of this year has reached 100 billion 587 million yuan, which is more than 8 times the half yearly settlement in 2010. According to the current minimum bank exchange cost of 0.2%, cross border trade settlement in the first half of this year has at least saved 133 million yuan for enterprises. "The smooth implementation of the cross-border RMB trade settlement experiment fully reflects the market's practical demand for cross border use of RMB." Zheng Nanyuan, vice president of the Hangzhou branch of the people's Bank of China, said.

Zheng Nanyuan disclosed that in the early stage of the pilot, the cross border RMB business in the whole province only involves RMB settlement of trade in goods, and has now extended to service trade, income and regular transfer, RMB outward direct investment, foreign direct investment in Renminbi, cross-border RMB trade financing, and personal currency guarantee. Among them, cargo import trade settlement, entrepot trade settlement, cross-border RMB trade financing become the main business of Zhejiang Province, and the total settlement volume in the first half of this year is nearly 100 billion yuan, which has taken the lead. This has many advantages for Zhejiang, one of the most important import and export trade bases in China.

Despite the fact that the current cross-border trade settlement of RMB has made a great success, it is far from a single yard. On the contrary, there are still many bottlenecks to be resolved.

First, overseas buyers, especially those from developed countries in Europe and the United States, do not accept RMB very well. As the appreciation of the renminbi is expected to be stable, many foreign businessmen are unwilling to shift the risk of exchange rate change to their own heads.

Secondly, the total amount is relatively small. The head of the Zhejiang provincial chamber of Commerce said that although Zhejiang's total volume of trade in goods settled in Guangdong, Beijing and Shanghai in the first half of this year, it ranks the fourth in the country, but it still has a lower proportion than the total volume of import and export trade in Zhejiang.

Structural imbalance is also a problem, which is mainly manifested in the imbalance of RMB settlement in import and export trade. According to statistics, in the first 6 months of this year, the proportion of RMB settlement in the import and export trade of goods in Zhejiang was 31.6: 1, and exports were obviously weak. In the same period, the proportion of RMB settlement in the import and export trade of goods was 9.7: 1, far below the proportion of the whole country.

Enterprises participating in cross border RMB settlement still have considerable potential to tap. By the end of 6 this year, Zhejiang There are 1748 enterprises in the province that have paid up and paid in real estate business. Compared with the 40 thousand import and export enterprises and 6709 first export pilot enterprises in the province, the participation of enterprises is obviously not big enough.

In this regard, the Central Bank of Hangzhou central sub branch held that there are many reasons for the bottleneck. For example, many foreign countries and regions have not received enough RMB acceptance, and foreign currency settlement currencies are missing. The scale of foreign currency is still small, liquidity is insufficient, investment and financing channels are not smooth, the degree of internationalization of overseas Chinese banks is not high, and the impetus for RMB settlement is not enough. {page_break}

Compared with the aforementioned factors, the RMB reflux channel of foreign importers and exporters is limited. market It is regarded as the biggest bottleneck for the further development of RMB cross-border trade settlement. At present, in addition to real trade, the policy window for RMB reflux is limited to three aspects, such as overseas clearing bank, and other limited aspects of domestic interbank bond market. The direct effect is that the Renminbi that the overseas traders or institutions get is nowhere to go, which leads to the lack of attraction for RMB settlement to overseas institutions and traders.