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

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Business

ADB to offer trade finance in yuan, rupee

By Wang Xiaotian | China Daily | Updated: 2012-07-19 08:02

Bank's move to encourage use of local currencies for settlement

The Asian Development Bank is to include the yuan in its Trade Finance Program, in a move which further bolsters global use of the currency.

The ADB's board of directors on Tuesday approved the inclusion of the Chinese currency and Indian rupee in the program, which "fills market gaps for trade finance by providing guarantees and loans to banks to support trade", it said.

More than 50 percent of the program's portfolio supports intra-regional trade and the move is expected to further enhance trade within developing Asia, according to the bank.

The program has supported more than $10.6 billion in trade since 2009, and previously only covered transactions denominated in US dollars, yen and euros.

"This move will encourage the use of regional currencies in trade and reduce reliance on the US dollar as a settlement currency, which is in short supply in many countries," said Steven Beck, head of the ADB's finance program.

Intra-regional trade in Asia in the next 10 years will account for at least half of the continent's foreign trade, the ADB said.

At present, 90 percent of all foreign trade in Asia is settled in US dollars. "But this percentage is expected to decline," it said.

Operating in 16 countries, the program's most active markets have been Bangladesh, Vietnam, Pakistan, Sri Lanka and Nepal.

Cross-border use of yuan has been increasing as Beijing takes steps to encourage use of the currency worldwide.

Last year, more than 2 trillion yuan ($313.7 billion) in international trade was settled in yuan, of which 92 percent was conducted through Hong Kong.

In the first half of the year, 1.25 trillion yuan worth of trade was settled in the Chinese currency, up 76 percent year-on-year. And the amount of foreign direct investment settled in the Chinese currency stood at 110.5 billion yuan, according to data released last week by the People's Bank of China, the country's central bank.

Interest in using the Chinese currency has spread quickly to other continents, especially Africa, said Anthony Lin, head of transaction banking at Standard Chartered Bank (China) Ltd.

African importers will be more likely to use yuan to settle transactions as they have a constant appetite for Chinese products, especially machinery, said Razia Khan, regional head of research for Africa at Standard Chartered Bank.

Contact the writer at wangxiaotian@chinadaily.com.cn.

Editor's picks
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 日韩一区高清 | 日韩高清黄色 | 欧美另类亚洲 | 在线看免费av | 咪咪色影院 | 中文第一页 | 色噜噜日韩精品欧美一区二区 | 四虎影院国产精品 | 偷偷操不一样 | 99色精品| 久久久久久久久免费 | 国产成人综合精品 | 亚洲一区欧美 | 天天操国产 | 成人视屏在线 | 超碰碰97| 久久xxxx | 婷婷综合在线观看 | 四虎精品在永久在线观看 | 国产精品v亚洲精品v日韩精品 | 精品久久久久久久久久久久 | 天天综合网久久综合网 | 欧美在线免费 | 亚洲蜜臀av乱码久久精品蜜桃 | 国产免费99 | 一区二区三区视频在线免费观看 | 91在线播 | 天堂在线一区二区 | 99久久久成人国产精品 | 久久黄色视屏 | 色偷偷免费视频 | 欧美一级特黄视频 | 天天在线免费视频 | 九九热精品视频在线播放 | 波多野结衣视频一区二区 | 四虎久久| 英国xxxⅹ性hd极品 | 日本欧美在线观看 | 成人免费在线视频网站 | 国产激情免费视频 | 亚洲专区免费 |