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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

ASEAN yuan use widens

By He Wei in Nanning | China Daily | Updated: 2013-09-05 07:24

ASEAN yuan use widens

SPDB set up a sister center two years ago in Xiamen, Fujian province, to facilitate rocketing cross-Straits business

transactions. The current center is set to sort out the uniqueness of the ASEAN market, she noted.

Beijing has so far clinched four swap agreements among ASEAN members to prevent trade and investment from foreign exchange losses and lessen dependence on a third currency.

It is also an active advocator of the multilateralization of the Chiang Mai Initiative, a regional currency swap arrangement that seeks to manage short-term liquidity problems.

The volume of bilateral swap agreements with local banks has reached 1.4 trillion yuan ($228 billion), while yuan-denominated cross-border settlements between China and the ASEAN reached 1.12 trillion yuan by June of this year, said Yi Gang, deputy governor of the People's Bank of China and head of the State Administration of Foreign Exchange.

Yi urged cross-border trade and investment settlements in local currencies to proliferate to all ASEAN members, which effectively lowers transaction costs and facilitates liquidity.

The presence of Chinese financial institutions has diversified Cambodia's infant financial market and helped the country fulfill many infrastructure projects, said Chea Chanto, governor of the National Bank of Cambodia.

"Two commercial banks - the Bank of China and the Industrial and Commercial Bank of China Ltd - started operations two years ago. Their good performances and the close collaboration between the two countries' central banks provide opportunities and confidence to draw Chinese investors to come to Cambodia," said Chea Chanto.

The State-backed China Development Bank has provided loans to aid the construction of roads, irrigation systems and energy sectors.

Cambodia has yet to achieve settlements in yuan, but he said they have taken preliminary steps by opening yuan accounts in local banks. He is optimistic to realize the goal "very soon".

Major banks in Cambodia have witnessed rising demand for yuan settlements, said Niu Jianjun, head of ICBC's Phnom Penh branch, who maintains a close relationship with local banks.

But there remain hurdles, given its history with US dollar settlement, as well as the relatively small volume of imports from China, which gives it less of an incentive to use the yuan.

"The ongoing Trans-Pacific Partnership Agreement and the trans-Atlantic trade agreement negotiations both intend to set the stage for a Western-dominated trade agenda. There is no way out but to strengthen our financial ties," said Han Mingzhi, chairman of the board of supervisors of China Merchants Bank Ltd.

Yi warned that the exit of quantitative easing policies may result in a wave of capital outflows and is likely to cause foreign exchange turbulence.

Previous 1 2 Next

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 免费在线黄色网址 | 国产日韩一区二区三区在线播放 | 99久久国语露脸精品对白 | 大胆gogo999亚洲肉体艺术 | 国产v片在线播放免费观 | 亚洲综合一区二区精品久久 | 美女mm131爽爽爽免费视色 | 亚洲不卡在线 | 我不卡午夜 | 成年人在线视频观看 | 日韩久久中文字幕 | 韩国免又爽又刺激激情视频 | 欧美精品做人一级爱免费 | 久久久久久综合七次郎 | 欧美精品另类hdvideo | 国产精品亚洲欧美日韩一区在线 | 老司机午夜性生免费福利 | 蝴蝶成人世界第八影院 | 久久综合婷婷香五月 | 国产三级在线观看免费 | 酒色影院| 国产亚洲欧美一区二区三区 | 国产一级做性视频 | 久久精品国产只有精品2020 | 久久综合精品国产一区二区三区 | 日韩 国产 欧美 | 欧美亚洲一区二区三区在线 | 99在线免费观看视频 | 国产伦码精品一区二区 | 99re最新这里只有精品 | 全部免费毛片在线 | 女人让男人桶的小视频 | 在线免费看黄色 | 香港三级网站 | 国产美女视频做爰 | 视频一区视频二区在线观看 | 久草在线视频首页 | 久久亚洲精品中文字幕三区 | 久草成人在线视频 | 九九99精品 | 国产一区二区久久久 |