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

US EUROPE AFRICA ASIA 中文
Opinion / Op-Ed Contributors

Stepping stones to freely traded renminbi

By Carmen Ling (China Daily) Updated: 2015-03-02 08:53

Stepping stones to freely traded renminbi

Renminbi appreciation is no longer seen as a one-way bet, posing an even bigger challenge for companies as they will have to start hedging their exposure to it. [Photo/Agencies]

Just a year and a half after opening its first free trade zone in Shanghai, China is now liberalizing its offshore borrowing for firms registered there. The China (Shanghai) Pilot Free Trade Zone was originally billed as a three-year trial, but China is forging ahead, and will expand Shanghai and launch three new zones in Tianjin in northern China, Fujian in the southeast and Guangzhou in the south in the near future.

While not the sole conduit for reform in China, the trade zone plan is crucial to the prospects of a fully convertible renminbi, and the speed at which China is rolling out the plan is surprising many observers.

The announcement on Feb 12 that offshore borrowing for firms in the Shanghai free trade zone will be relaxed further - and that the new regulation will include banks - is a significant break-through and suggests China is committed to achieving full convertibility of the RMB.

Launched in September 2013, the Shanghai free trade zone has been an important test bed in China for freer trade, and a more liberal business and financial environment. The fact that China is now expanding the zone and replicating it in other cities confirms that the government considers it a success.

The zone is bringing real benefits to China's economy and companies. According to official data, the export-import trade passing through the four areas of the free trade zone between January and August rose 11 percent compared to the same period of 2013, before the zone was established. Logistics and inventory costs are down by an average of 10 percent and the average time required to clear customs has been reduced by three to four days.

The zone is also contributing to China's financial reform. Initiatives such as interest-rate liberalization and the cross-border renminbi sweeping program - which allows companies to repatriate their trapped cash onshore to offshore through a linked cash pool, are crucial to promoting internationalization of the renminbi. Between January and August last year, two-way renminbi flows arising from cross-border sweeping reached more than 27.2 billion.

The risks associated with the zone are proving manageable. A negative list was put in place to restrict foreign funds from investing in specific industries within the zone, such as sensitive or overheated sectors. This list has since been shortened, demonstrating the Chinese government's growing level of confidence in the zone. Also, commercial banks are enforcing know-your-customer procedures to ensure that the funds moving in and out of China are supporting genuine trade.

Previous Page 1 2 Next Page

Most Viewed Today's Top News
...
主站蜘蛛池模板: 亚洲天堂免费视频 | 91久久综合亚洲鲁鲁五月天 | 国内久久 | 日韩在线视频播放 | 夜夜爽av福利精品导航 | 超碰人人艹| 色呦呦在线视频 | 免费黄色片在线观看 | 久久精品一级片 | 亚洲高清视频在线播放 | 久久久伦理 | 国产免费激情视频 | 欧美激情天堂 | 91传媒在线免费观看 | 国产女18毛片多18精品 | 一级色视频 | 污片网站在线观看 | 国产小视频91 | 婷婷天堂 | 中文字幕亚洲欧美日韩 | 中文字幕免费观看 | 成人综合色站 | 国产一区二区精品在线 | 国产三级福利 | 天天色网站 | 国产欧美精品一区二区三区 | 国产精品成人一区二区三区 | 成人中文字幕在线观看 | 精品美女视频在线观看免费软件 | 亚洲黄色一级 | 日本成人午夜视频 | 综合网伊人 | 叶玉卿三级 | 久久视频一区 | 青青草视频网 | 中文在线字幕免费观 | 婷婷在线免费观看 | 国产精品毛片久久久久久久av | 午夜激情四射 | 古装做爰无遮挡三级视频 | 成人免费毛片xxx |