www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

Cross-border yuan settlement growing rapidly

By Jiang Xueqing (China Daily) Updated: 2014-10-23 07:30

Currency now second most used for China's intlpayments after dollar, central bank official says

The use of the yuan in cross-border trade and investment has grown rapidly in the past five years, according to Hu Xiaolian, deputy governor of the People's Bank of China.

Addressing a recent forum on cross-border yuan business in Beijing, Hu revealed international renminbi settlement had exceeded 4.8 trillion yuan ($784 billion) by the end of September this year, up from 3.58 billion yuan in 2009.

Hu said yuan payments between China and 174 countries now account for nearly one quarter of China's total international payments, which has helped the Chinese currency become the second most used for such payments after the US dollar. More than 15 percent of imports and exports were also settled in yuan.

According to statistics released on Tuesday by the Industrial and Commercial Bank of China Ltd, the nation's biggest lender by assets, its own cross-border yuan business has grown by an average of more than 200 percent annually since China launched its pilot program to settle more cross-border trade in yuan in 2009.

As of Sept 30, total cross-border yuan business handled by the bank amounted to nearly 7.7 trillion yuan, 2.8 trillion yuan of which was handled in the first three quarters of 2014, an increase of more than 80 percent from a year earlier.

Hu said China has been deepening international cooperation on the use of yuan in recent years, and that the PBOC had now signed bilateral currency swap agreements worth almost 2.9 trillion yuan with 26 central banks and monetary authorities.

Those agreements include the PBOC setting up clearing houses for yuan-denominated transactions in leading financial centers around the world, such as Hong Kong, Singapore, London and Frankfurt.

After designating the Singapore branch of ICBC as the renminbi-clearing bank there in February, 2013, the branch had set up 82 yuan clearing accounts covering 34 countries and regions by the end of September this year.

Its clearing business amounted to 23.8 trillion yuan.

The renminbi is now directly tradeable with the US dollar, the euro, yen, pound, Russian rouble, Malaysian ringgit, Australian dollar and New Zealand dollar.

Some central banks have added it as a reserve currency or have signaled they are prepared to do so.

Hu said China is forging ahead with a reform of the yuan exchange rate mechanism, which will allow market players to better allocate their financial resources based on price signals.

The PBOC widened the daily trading band for the yuan against the US dollar to 2 percent from 1 percent in March. As two-way fluctuations in the yuan exchange rate expand steadily, traders have begun to have divided expectations on the rate. Such reform has helped to lay a market foundation for the cross-border use of the yuan, Hu said.

In her view, China should continue to improve the financial regulatory coordination mechanism and further promote cross-sector, cross-border regulatory cooperation.

Cross-border yuan settlement growing rapidly

Cross-border yuan settlement growing rapidly

ODI 'on track for steady growth' Faster capital account liberalization expacted 

?

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产萌白酱在线一区二区 | 亚洲悠悠色综合中文字幕 | 黄a 大片a v 永久免费 | 伊人色综合久久天天人手人停 | av成人天堂 | 韩国一级永久免费观看网址 | 久久福利青草狠狠午夜 | 国产大乳孕妇喷奶水在线观看 | 在线播放国产视频 | 国产原创系列在线 | 亚洲美女性生活视频 | 狠狠色综合久久婷婷 | 在线播放亚洲美女视频网站 | 九九视频在线 | 99久久免费看精品国产一区 | 国产伦理久久精品久久久久 | 免费五级在线观看日本片 | 美国人成毛片在线播放 | 高清国产美女一级a毛片 | 国产农村一二三区 | 久国产 | a免费网站 | 久久熟 | 全国最大色成免费网站 | 国产做a爰片久久毛片a | 国产午夜精品理论片影院 | 午夜亚洲| 亚洲国产精品ⅴa在线观看 亚洲国产精品aaa一区 | 美女视频黄a | 99久久精品国产一区二区小说 | 国产大臿蕉香蕉大视频女 | 欧美成人高清免费大片观看 | 七七国产福利在线二区 | 欧美成人看片黄a免费看 | 欧美成人精品手机在线观看 | 欧美亚洲综合视频 | 国产国产成人人免费影院 | 87精品福利视频在线观看 | 成人做爰视频www片 成人做爰视频www视频 | 91欧美激情一区二区三区成人 | 成人国产综合 |