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
China
Home / China / Business

Clearing facility to improve trade with Asean

By Gao Changxin in Nanning, Guangxi | China Daily | Updated: 2014-09-18 08:34

China should consider setting up an integrated clearing facility with the Association of Southeast Asian Nations to further boost its trade and investment within the region, a top official said on Wednesday.

Cao Tong, vice-president of The Export-Import Bank of China, said the measure will also help popularize the use of renminbi as a trade currency within the region.

For countries such as Malaysia, Thailand and Singapore, which already have established clearing facilities, Beijing should seek easier linkages between the two systems to facilitate cross-border yuan transactions.

For less developed countries, Beijing needs to provide necessary support and help the countries to set up the clearing infrastructure, he said.

"Regional economic integration cannot be achieved without building and improving financial infrastructure. A convenient and effective clearing platform will strengthen economic and trade ties within the region," Cao said.

Beijing has set a bilateral trade target of $1 trillion with ASEAN by 2020 and $500 billion by 2015, up from $443.8 billion in 2013. Having a higher proportion of trade settled in the yuan, instead of the dollar, will lower costs and more importantly strengthen financial ties with the region, which Beijing deems as a pillar of its diplomatic initiatives.

From January to August, 13 percent of China-ASEAN trade was settled in the yuan, lower than the 15.8 percent average in China's overall international trade in the same period.

As part of the move to enhance financial infrastructure in the region, the People's Bank of China has established currency swap lines with ASEAN countries including Thailand, Indonesia and Singapore.

Under Beijing's efforts, the yuan has already become one of the major trade currencies in the region. In a paper in 2012, Arvind Subramanian and Martin Kessler of the Peterson Institute for International Economics in Washington pointed out that "in East Asia there is already a yuan bloc, because the yuan has become the dominant reference currency, eclipsing the dollar, which is a historic development". Seven out of 10 currencies in the region could move more closely with the yuan than with the dollar.

To further yuan application in ASEAN, Cao said Beijing should grant quotas to ASEAN countries to raise the yuan for offshore for investment in the mainland.

Giving investors in the region more quotas under the Renminbi Qualified Foreign Institutional Investors program will encourage them to use the Chinese currency in more cross-border trade and investment and enhance the currency's sway within the region.

"ASEAN countries should be favored in terms of (RQFII) approval and the range of investment options under the program will help increase the amount of yuan deposits in the region," he said.

 

Editor's picks
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: 国产男女 爽爽爽爽视频 | 日本亚洲视频 | 男女配种猛烈免费视频 | 久草免费在线观看 | 杨幂丝袜国产福利视频 | 亚洲一级视频在线观看 | 成人网在线免费观看 | 久久精品国产91久久综合麻豆自制 | 国产精品久久久久久网站 | 狠狠色狠狠色综合久久一 | 欧美a大片欧美片 | 手机看片日韩高清国产欧美 | 国产精品自拍在线观看 | 黄页网址免费观看18网站 | 亚洲成人18 | 性欧美videos 精品 | 在线视频久| 久久―日本道色综合久久 | 成人毛片视频免费网站观看 | 亚洲人的天堂男人爽爽爽 | 久久在视频 | avtt天堂网 手机资源 | 亚洲性xo| 九九亚洲视频 | 日韩视频一区二区 | 国产亚洲精品国看不卡 | 免费一级特黄欧美大片勹久久网 | 最新在线步兵区 | 黄 色 三 片 | 香港三级做爰大爽视频 | 亚洲精品一区二区在线播放 | 国产a毛片 | 精品亚洲综合久久中文字幕 | 国内精品久久久久久 | 欧美国产日韩一区二区三区 | 国产黄色在线网站 | 欧美大片在线播放 | 国产自精品在线 | 成人爽a毛片在线视频网站 成人爽爽大片在线观看 | 精品一区二区三区视频在线观看 | 午夜不卡在线 |