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 / Policy Watch

China expands cross-border FX payment system

By Jiang Xueqing and Meng Jing (China Daily) Updated: 2015-01-31 09:31

China expands cross-border FX payment system

Foreign currencies are placed next to 100 yuan banknote. [Photo/IC]

A pilot program for cross-border foreign exchange payments will be expanded to support the development of cross-border e-commerce and limit the risks associated with online payments involving foreign currencies, the State Administration of Foreign Exchange announced on Thursday.

The SAFE said it would allow qualified third-party payment institutions to join a pilot program to provide centralized receipt and payment services of foreign exchange and the associated buying and selling services.

The transactions must relate to online payments for cross-border e-commerce.

Previously, a transaction for a single shipment could not exceed the equivalent of $10,000. The limit for a single transaction related to overseas education, airline tickets and hotels was $50,000 or the equivalent.

The cap for a single shipment has been raised to $50,000, the same as for education and travel.

To join the pilot program, payment institutions must register as foreign exchange receipt and payment companies at a local SAFE bureau. They must also verify the authenticity of each transaction, maintain records for five years and report relevant business information and statistics to the regulator promptly.

E-commerce transactions hit 8.6 trillion yuan ($1.38 trillion) during the first three quarters of 2014, according to the Ministry of Commerce.

The full-year figure is expected to exceed 12 trillion yuan, which would be up 20 percent. Online retail transactions for the year are expected to exceed 2.7 trillion yuan, up 40 percent.

As cross-border e-commerce booms, it needs more support including payment and settlement.

Since September 2013, the SAFE has given approval for 22 third-party payment institutions such as Alipay, the online payment arm of Alibaba Group Holding Ltd, to conduct cross-border foreign exchange payment business in five cities including Beijing, Shanghai and Shenzhen.

Du Peng, chief of the current account department of the SAFE, told a news briefing on June 30 that the foreign exchange regulator may expand the pilot program in terms of regional coverage, payment institutions and the amount of a single transaction.

Wang Weidong, an analyst with Beijing-based iResearch, said the new regulation will boost the growth of cross-border e-commerce in China by getting more payment organizations involved.

"For consumers who want to shop abroad, it is important to have a credit card that can pay in US dollars. However, not every Chinese person has a credit card. The new regulation is expected to make it possible for online buyers to make cross-border payments in various ways, be it debit cards or Alipay," Wang said.

He added that the rise in the ceiling per shipment from $10,000 to $50,000 will be welcomed by cross-border shopaholics.

Wang Xiaoxing, an e-commerce analyst at Analysys International, expressed doubt that ordinary consumers can spend that much online, but he said the regulation will encourage more small and medium-sized enterprises to engage in cross-border e-commerce.

"At present, the majority of SMEs only use online platforms to find potential business partners. The actual payments are mostly done via traditional banks due to the lack of trust in each other.

"With the establishment of a credit system, the regulation will prompt more companies to pay online," he said.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 成年女人午夜免费视频 | 国产精品久久久久久久专区 | 性生活视频网 | 国产的一级片 | 国产精品美女一级在线观看 | 国内欧美一区二区三区 | 欧美在线一区二区 | 欧美白人猛性xxxxx交69 | 亚洲高清成人欧美动作片 | 亚洲一区 欧美 | 国产精品久久久久无码av | 中文字幕99在线精品视频免费看 | 亚洲综合黄色 | 99久久精品毛片免费播放 | 久久99九九精品免费 | 欧美亚洲一区二区三区在线 | 国产亚洲欧美在线播放网站 | 一级美女黄色片 | 三级国产精品一区二区 | 国产全部理论片线观看 | 欧美一级片毛片 | 国产成人高清视频在线观看免费97 | 完整日本特级毛片 | 国内自拍第100页 | 久久综合狠狠综合久久综合88 | 欧美日韩第二页 | 亚洲美女在线观看亚洲美女 | 久久久久久久久久免费视频 | 91热久久免费频精品动漫99 | 精品一久久香蕉国产线看观 | 国产精选莉莉私人影院 | 中文精品99久久国产 | 欧美成人午夜毛片免费影院 | 午夜宅男在线永久免费观看网 | 日韩 欧美 自拍 在线 视频 | 亚洲成人福利网站 | 国产亚洲精品久久综合影院 | 久草在线免费福利视频 | 加勒比久久综合 | 国产精品久久久久久久人热 | 精品九九视频 |