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: 亚州成人 | 国产性videostv另类极品 | 中国一级特黄视频 | 国产成人精品aaaa视频一区 | 亚洲va久久久噜噜噜久久狠狠 | 亚洲网美女 | 亚洲区精品 | 国产成人一区二区三区免费观看 | 欧美一级成人影院免费的 | 精品一区二区三区视频在线观看免 | 一级床上爽高清播放 | 欧美又粗又硬又大久久久 | 精品免费国产一区二区三区 | 国产成人综合网在线播放 | 免费人成黄页网站在线观看国产 | 欧美一级毛片一级 | 国产精品久久久久久久网站 | 国产一区二区久久精品 | 欧美日韩高清性色生活片 | a毛片在线还看免费网站 | 国产欧美日韩视频在线观看一区二区 | 久久精品视频大全 | 看全黄男人和女人视频 | 国产在线观看免费视频软件 | 久久国产精品一区二区三区 | 欧美色网在线 | 国产三级麻豆 | 亚洲自拍在线观看 | 色偷偷亚洲第一成人综合网址 | 亚洲小视频在线 | 日本三级香港三级三级人!妇久 | 亚洲欧美日韩在线观看二区 | 青青自拍 | 成人午夜视频在线观 | 99国产精品九九视频免费看 | 一级特黄aaa大片在 一级特黄aaa大片在线观看 | 国产三级免费观看 | 免费人成网站在线播放 | 精品综合在线 | 美女被拍拍拍拍拍拍拍拍 | 日本一级在线观看 |