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-Straits currency clearing deal signed

By WANG XIAOTIAN (chinadaily.com.cn) Updated: 2012-08-31 20:13

The People's Bank of China, the Chinese mainland's central bank, signed an agreement with Taiwan's "central bank" on Friday to establish renminbi clearing in Taiwan, the PBOC announced in a statement on its website on Friday.

Effective in 60 days, the agreement allows each side to set up a clearing bank and directly process currency transactions. Before the agreement, the US dollar was used as an intermediary currency.

The PBOC will appoint a commercial bank — either Bank of China Ltd or Bank of Communications — as the yuan-clearing bank in Taiwan, said the statement. But Taiwan has not decided on a clearing bank yet.

"The establishment of the cross-Straits clearing mechanism signals that currency cooperation between the two sides has entered into a new phase and marks an important milestone in mutual financial cooperation," the PBOC said in the statement, adding it expects direct currency convertibility will facilitate cross-Strait trade.

Under the agreement, the yuan, which will be designated as "CNT" in Taiwan, will have its own spot and interbank markets. Banks in Taiwan will also offer RMB savings accounts.

A currency swap agreement is currently under consideration, but the size has not been decided yet.

"While (Friday's) announcement paves the way for a direct currency trade, the authorities will have to work out the technical details including pace, scope and other technicalities. It seems that Taiwan's RMB market will not replicate the model in Hong Kong," said Raymond Yeung, senior economist at the Australia and New Zealand Banking Group Ltd.

The total value of cross-Straits merchandise trade amounted to $120 billion in the past year.

An average of 4 percent of global payments with the Chinese mainland were settled in RMB, according to latest statistics of Society for Worldwide Interbank Financial Telecommunication.

As Taiwan and the mainland establish a closer economic relationship, that figure could reach 10 percent within six to 12 months, said ANZ.

"Cross-Straits trade settlement in RMB could reach $12 billion a year, and CNT deposits could build up very quickly."

The development of the RMB market will likely be much slower than that in Hong Kong, said Yeung.

"Besides, the statement does not mention any arrangements between the RMB markets in Taiwan and Hong Kong. At this stage, it is difficult to assess whether a CNT market will generate arbitrage opportunities."

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲三级理论 | 乱淫毛片| 精品成人久久 | 真人一级毛片免费完整视 | 亚洲国产精品成人午夜在线观看 | 久久福利青草精品资源 | 亚洲精品国产免费 | 国产成人免费高清激情视频 | 2022国内精品免费福利视频 | 久久精品网站免费观看 | 国产精品永久免费自在线观看 | 日本欧美一级二级三级不卡 | 天天躁日日躁狠狠躁一级毛片 | 国产精品久久久久久久久免费观看 | xh98hx国产免费| 欧美精品综合一区二区三区 | 精品久久久久久中文字幕一区 | 国产一区影视 | 久久久视 | 亚洲天堂视频在线 | 久久综合88 | 日韩欧美在 | 玖玖啪| 国产免费人视频在线观看免费 | 国产精品爱久久久久久久小 | 国产美女视频黄a视频全免费网站 | 精品在线免费观看 | 男人的天堂在线免费视频 | 久久久久久综合七次郎 | 最新国产中文字幕 | 未成人做爰视频www 窝窝午夜精品一区二区 | 在线高清一级欧美精品 | 国产激情视频在线 | 国产毛片网站 | 日本精品99 | 日本a级片免费观看 | 中文字幕三区 | 欧美高h视频| 成人免费视频播放 | 国产成人精品亚洲日本语音 | www午夜|