日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Money

Yuan-based trade settlement volume increases

By Chen Jia (China Daily)
Updated: 2011-03-02 13:34
Large Medium Small

BEIJING - The transaction volume of China's cross-border trade settled in yuan has increased sharply, as the government approved pilot companies to use the currency in direct overseas investments.

In the first month of this year, Bank of China's total volume of yuan-denominated cross-border trade settlement reached about 40 billion yuan ($6.09 billion), one-fourth of the 160 billion yuan for the whole of 2010, said Chen Jun, a manager from the international settlement business department of the bank on Tuesday.

Industrial and Commercial Bank of China, the world's largest lender by market value, transacted about 150 billion yuan in cross-border settlement business since the pilot program started in July 2009, a report of the bank said.

China's cross-border trade settlement in the currency rose to 510 billion yuan by the end of last year, Chen said adding that the government is looking to reduce dependence on the US dollar and quicken the pace of yuan globalization.

"Growing international trade and investment by Chinese companies abroad increased the need for yuan-denominated settlement business, and it also provided business opportunities for domestic financial institutions," said Chen.

Investors in the offshore yuan market are likely to hold more working capital in the currency as Chinese financial institutions are working on providing more innovative products and services, Chen added.

Related readings:
Yuan-based trade settlement volume increases Head of IMF urges greater role for yuan
Yuan-based trade settlement volume increases PBOC urges lenders to vet yuan trade settlements
Yuan-based trade settlement volume increases China to increases yuan-settlement companies
Yuan-based trade settlement volume increases China issues new rules on RMB settlement accounts

The People's Bank of China in January allowed some domestic pilot companies to directly invest overseas in yuan, in order to expand yuan-settled business.

These pilot companies were from 24 provinces and cities on the mainland, including Liaoning, Zhejiang, Guangdong and Shanghai.

"Allowing direct investment in the currency is a start to liberalizing the capital account and will help ease the pressure of excessive liquidity, said Xu Sheng, director of the Capital Management Department at JP Morgan Chase in Shanghai.

"It will further accelerate trade settlements in the currency and expand the offshore yuan markets," he said.

Hong Kong, the emerging yuan hub, is expected to provide more options for investors in the offshore yuan market, with companies issuing yuan-denominated bonds and with plans to sell yuan-based shares.

After China's government revised the settlement agreement on the clearing of yuan business in July 2010, Hong Kong handled 370 billion yuan in trade settlements last year, according to the Xinhua News Agency.

The total value of cross-border trade in the currency rose to 108 billion in January, from 100.9 billion yuan in December last year, data from the Hong Kong Monetary Authority showed.

According to a survey from HSBC, about 30 percent of cross-border trade of small and medium-sized companies in Hong Kong is settled in yuan, and this figure is likely to increase to 50 percent by the end of 2011.

分享按鈕
主站蜘蛛池模板: 哪个网站可以看毛片 | 日本久久一级片 | 欧美国产在线观看 | 91国内精品视频 | 免费毛片观看 | 亚洲国产区 | 丰满少妇一级 | 99免费在线观看 | av一区二区三区 | 一二三不卡视频 | 亚洲色图35p | 亚洲精品456 | 亚洲成人国产精品 | 在线免费观看成年人视频 | 黄色网址 | 99热这里只有精品在线观看 | 在线中文字日产幕 | 婷婷综合久久 | www.亚洲国产 | 少妇久久久久久久久久 | 亚洲国产经典 | 欧美在线一区二区三区四区 | 天天插综合 | 久久精品综合网 | 成人免费超碰 | 精品国产乱码久久久久久婷婷 | 色综合久久88色综合天天 | 久久嫩草精品久久久久 | 欧美色视频在线观看 | 国内精品久久久久久久影视简单 | 午夜影视在线观看 | 欧美一级久久久 | 一级免费毛片 | 欧美国产日韩一区二区 | 韩国黄色一级大片 | 成年免费视频黄网站在线观看 | 午夜在线视频观看 | 丁香六月天婷婷 | 午夜日韩精品 | 久久免费福利视频 | 亚洲砖区区免费 |