Shanghai Free Trade Zone To Start Cross-Border Payment Of Sea Amoy RMB Free Of Commission Fees

< p > the Shanghai headquarters of the people's Bank of China announced yesterday that the payment mechanism of the cross-border a href= "http://www.91se91.com/news/index_c.asp" > RMB /a > payment system was launched in the Shanghai free trade area. 5 Payment institutions such as UnionPay, fast money, and communications have signed contracts with cooperative banks. According to the central bank's "Implementation Opinions on the cross-border RMB payment business of Shanghai Payment institutions" issued by the central bank (hereinafter referred to as the "implementation opinions"), eligible Payment institutions will be able to carry out cross-border RMB payment business. < /p >
< p > this means that consumers will be able to directly use RMB "Hai Tao" through the third party payment institutions, and domestic enterprises can also directly use RMB to carry out cross-border business. The industry believes that this is another important step to facilitate cross-border trade and expand the cross border use of RMB. < /p >
< p > the relevant person in charge of UnionPay payment told reporters that all parts of the RMB cross-border payment business in the Shanghai free trade area will be RMB. "The risk will be smaller and the operation will be more convenient. Users can enjoy shopping and experience on overseas e-commerce websites through cross-border payment channels of RMB." < /p >
< p > < strong > Save RMB for exchange can also be "Hai Tao" < /strong > < /p >.
< p > Chinese consumers support the world's largest "a href=" http://www.91se91.com/news/index_c.asp "e-commerce" /a "market. Now, foreign electricity providers can also share the purchasing power of Chinese consumers. UnionPay payment official told reporters that due to the need to change the currency before, there are some obstacles to both sides of the online transaction. In the future, all links in the cross-border payment business of RMB are RMB, RMB, and RMB settlement. < /p >
< p > reported that UnionPay (1.99, -0.01, -0.50%) sub payment staff demonstrated the "Hai Tao" foreign red wine at the signing site 18 days ago. After the completion of the cross-border RMB payment through the UnionPay, consumers will not have to pay any other service charges and the trouble of exchange. < /p >
< p > in fact, some overseas shopping websites can also use "Renminbi" payment when shopping through third foreign payment institutions such as PayPal. Then, what advantages do domestic third party payment institutions have for cross-border RMB payment? < /p >
< p > for this, Sun Zhanping, general manager of the electronic payment of UnionPay, told reporters: "if we use PayPal" Hai Tao ", although the Chinese consumers spend RMB, the actual money they receive is foreign currency, and the exchange rate may fluctuate considerably. Now allowing third party payment agencies to cross border Renminbi payment, from consumers to settlement organizations to banks and merchants, all are settled and priced in Renminbi. This avoids the risk of exchange rate changes. Reporters interviewed found that although the third party payment agencies cross-border RMB payment has opened the door, but the current support for the service website is not much. Sun Zhanping said: "the UnionPay has already talked with many overseas airlines and hotels, but to support RMB cross-border payment, foreign companies need to open renminbi accounts and get recognition from regulators, all of which will take time." < /p >
< p > > a href= "http://www.91se91.com/news/index_c.asp" > cross border Tong < /a >, the person in charge told reporters that the cross-border business mode and the cross border e-commerce platform of the various payment agencies and merchants in the free trade area are not very different. In fact, they have added a kind of currency for payment and settlement for merchants, that is, it is a good news for merchants. < /p >
< p > < strong > save time RMB for trade acceleration < /strong > < /p >
At the same time, the whole cross-border trade process is completed electronically in P. It includes commercial display, trade matching, online signing, electronic document preparation, fund trusteeship, final payment settlement, and customs delivery. "90% of the trade process can move to the online and save more than half of the trade time. For many Taiwan exporters, the opening of RMB cross-border payment is a great gospel." Taiwan Kwan network general manager Lian Kun Jing told Xinhua news agency. < /p >
< p > GATT network is similar to Alibaba. It has 460 thousand commodity databases and 8500 suppliers. After the cross-border RMB payment business with fast money, the GATT Internet cross-border e-commerce platform provides a complete transaction electronic file for quick money to the foreign exchange control bureau as the basis for foreign exchange settlement. After payment by the fast money payment mechanism, the buyer collects the cross border RMB foreign exchange payment every day, and then sends it to the Taiwan seller account under the network transaction. The T+3 will be completed within ten days. For fruits and other fast food products, the completion of trade in a shorter time is undoubtedly a "big Gospel". < /p >
< p > fast money CEO Guan Guoguang said that because trade information has electronic credentials, it not only speeds up the speed of trade, but also enables regulators to supervise more conveniently. Even Kun Ching said that in addition to fast moving products, the future also hopes to carry out online trade in industrial products. Affected by this, the future trade between the mainland and Taiwan will also have room for improvement. < /p >
< p > Zhou Jinhuang, deputy director of the people's Bank of China Payment division 18, said: "the people's Bank of China will support the Shanghai free trade area and formulate more payment products that meet the needs of the real economy." < /p >
< p > < strong > save the space bank how to turn danger into opportunity. < /strong > < /p >
< p > according to the "implementation opinions", Shanghai Payment institutions that meet the relevant conditions of registration, business scope and other related conditions can participate in cross-border RMB payment and carry out various innovative businesses, including financial value added, comprehensive cash management, comprehensive payment scheme, and domestic and foreign comprehensive bank card collection. < /p >
< p > "for commercial banks, support for the third party institutions to carry out cross-border RMB payment, but also left room for their own business innovation." Pan Yuehan, governor of Shanghai branch of Bank of China, said, "for example, cross border funds will increase demand for investment and exchange, including financial products, bond products and hedge products." < /p >
< p > for the impact of Internet Finance on traditional banks, Pan Yuehan said: "networking is only a means. For banks, the most important thing now is to return to the banking standard, so as to better serve customers and serve the real economy." < /p >
< p > ICBC Shanghai branch told reporters that the third party payment business from domestic to cross-border is the inevitable trend of the development of the payment industry. It is an important opportunity to achieve business upgrading, and has a milestone significance for the domestic payment industry to internationalize. < /p >
< p > < strong > province has passed the examination and approval system of post filing, < /strong > < /p >.
< p > it is worth mentioning that the "implementation opinions" clearly pointed out that the payment agency will carry out the post office filing and negative list management of cross-border RMB payment business. Regarding this, Sun Hui, member of the Shanghai headquarters of the people's Bank of China and inspector general, said at the launching ceremony that the implementation of the opinions stipulates that the payment agencies should carry out cross-border RMB payment business without prior approval from the people's Bank of China. < /p >
< p > "implementation opinions" also requires that payment agencies should strictly abide by the requirements of the existing rules and regulations concerning customer payment supervision and risk management in carrying out cross-border RMB payment business, and strictly establish and implement the system of customer real name, customer risk rating management, risk reserve and transaction compensation, transaction and information security management. < /p >
< p > for the qualification of Payment institutions, the implementation opinion points out that the payment institutions registered in Shanghai include the establishment and test area outside the test area, the payment institutions registered in Shanghai, and the branches established by the payment institutions registered outside Shanghai, and the payment agencies that have the Internet payment business license can carry out cross-border RMB payment business. < /p >
< < p > in order to prevent risks, the implementation opinions require payment agencies to carry out cross-border RMB payment business. They should strictly abide by the "payment institution customer reserve deposit management method" and other related customer payment supervision requirements of the people's Bank of China, and establish and improve the system of customer identification, customer risk rating management, risk reserve and transaction compensation, transaction and information security management, and transaction information declaration system. < /p >
< p > reporters learned that with the implementation of the implementation rules for cross-border RMB payment business, Dai Haibo, executive deputy director of the Shanghai Free Trade Area Management Committee, said that the Shanghai free trade area will release the relevant rules of cross border RMB use and interest rate marketization and so on. < /p >