The Ministry of Commerce and the People's Bank of China issued a notice a few days ago to further support foreign economic and trade enterprises to expand the cross-border use of RMB and promote trade and investment facilitation.
The notice calls for facilitating the use of renminbi-denominated settlement for various cross-border trade and investment, promoting banks to provide more convenient and efficient settlement services; Cross-border RMB settlement of various new types of trade, supports RMB pricing and settlement of bulk commodities, and supports foreign investors to invest in China and reinvest domestically in RMB.
Efforts should be made to increase support for small, medium and micro enterprises, facilitate their use of RMB for settlement in cross-border trade and investment, avoid exchange rate risks, and reduce exchange costs.
Xuan Changneng, deputy governor of the People's Bank of China: At present, nearly half of the cross-border transactions carried out by various entities in my country have been settled in RMB. In the next step, the People's Bank of China will further consolidate the institutional foundation for cross-border RMB business and improve the RMB Cross-border use of infrastructure construction will create a more friendly policy environment for domestic and foreign entities to hold and use RMB.
The Ministry of Commerce stated that in recent years, Chinese enterprises have more deeply integrated into the global industrial chain, supply chain and value chain, and their willingness and demand for cross-border use of RMB have continued to increase.
Local commercial authorities and branches of the People's Bank of China must promptly identify and meet the needs of industry and enterprises to create a favorable policy environment for the cross-border use of RMB.
Guo Tingting, Vice Minister of Commerce: Based on solving the urgent problems and worries of enterprises, we will continue to implement policies, help more enterprises to carry out cross-border RMB business, promote trade and investment facilitation, and improve the quality and level of trade and investment cooperation.
(CCTV reporter Wang Lei, Sun Yan, Sun Xiao, Zhang Jun, Lei Ming)