The pilot of trade in goods RMB currency to the yuan from the regional currency, and even become an important step in the international reserve currency.
more and more crowds of Chinese tourists in Southeast Asia, more and more Chinese merchants in Southeast Asia, coming and going, more and more dazzling array of Chinese goods in Southeast Asia is not a dream ... ... the reality of it all seems In a reminder of all the people, the Chinese influence in Southeast Asia has been no small matter. Currently, the 10 ASEAN countries have become destinations of Chinese citizens travel abroad each year between both sides, up to 660 million.
since many with the As is often the commercial exchanges between the two countries began, the yuan's
2009 年 3, the State Council Premier Wen Jiabao at the has been finalized by the State Council approved, will be implemented as soon as possible. For Yunnan Province,UGG shoes, this means that since 2004 the implementation of border trade in RMB pilot policy to give tax rebates, will be expanded to border trade, general trade, from 8 to states to expand the province's border area, from Thailand and Myanmar and older and 4 to the 10 ASEAN countries to promote the country.
In fact, the RMB has long existed for International Settlements, the private sector, not just the official.
4 months, the reporter went to the border with Myanmar border town of Ruili, Yunnan Province, which has Ruili, Wanting a class of port the two countries had a border to see Dehong, see Dehong Ruili border trade
opposite Ruili is the largest open city in northern Myanmar Muse in Muse streets, it is clear that many local people buying and selling merchandise is paid in RMB, compared with less kyat, while in others a northern Burma border town South, and many folk The same situation exists in the long-term estuary port of Yunnan-Vietnam border trade, people use every day for the RMB to the is everywhere, piles of Vietnamese Dong, the U.S. dollar and the RMB freely piled up, so that the good news surprised local security.
China and Myanmar and Vietnam border residents and visitors have already used to Border areas in northern Vietnam, whether shopping or eating car, you can use the RMB payment; in northern Myanmar between the Muse and the South there is a , car tolls can also be used to pay 5 yuan.
Ruili City, an official said that in the China-Burma border area, civil RMB cash settlement already exists, even earlier is the use of U.S. dollars, but mostly individuals or private companies on the border, such as the spread, small stores. As Myanmar has long been very unstable currency, exchange rate risk is high, traders are reluctant to hold, and business dealings with the Chinese people more, always converted into U.S. dollars is also more trouble, and finally good
information Yunnan Provincial Department of Commerce Director Shi Xuemei, said: initially only Myanmar, Laos and Viet Nam trade effectively. Since 2005, more than 90% of the export border trade in Yunnan Province is RMB settlement tool, the border trade between the proportion of RMB settlement by more than 95%.
According to statistics, in 2008, border trade in Yunnan Province for a total of 156 export enterprises to apply for border trade tax 330 million yuan RMB, accounting for 21% of the total provincial tax, accumulated since 2004 for the tax rebate A total of about 12 million, to promote border trade continues to expand. Among them, the China-Myanmar border trade using the highest percentage of RMB, has remained at 90%, followed by Vietnam border trade, 75%, and in only 40% of the old border.
entry policy in Yunnan pilot is successful, the State Council will be deployed to implement the ASEAN trade in goods between Yunnan and the RMB settlement pilot laid a solid foundation. the most dynamic markets in recent years, total trade is 30 billion U.S. dollars. Yunnan border area is the most common method of payment is cash settled by RMB, RMB has been widely used in the border trade, investment and other large trading areas. Foreign trade balance will require prior to their respective currencies into U.S. dollars,UGG bailey button, settlement and then converted into their currency, highly vulnerable to the impact of currency instability, bringing losses. Since 2008 the international financial crisis and economic crisis, the foreign exchange market exchange rate volatility, most countries in Southeast Asia is also a great currency exchange rate fluctuations, while the yuan currency has been relatively stable and steadily. Sun Xiaohong
Director of Yunnan Provincial Department of Commerce that, if the relative stability of the RMB to settle, a lot of risk and losses could be avoided. He said that the country very much hope that the RMB to sub-regional, it will be settled in RMB in Yunnan, the first pilot, and now the biggest obstacle to clearing the yuan from foreign governments.
RMB settlement can be implemented. center.
Bangkok, Thailand, the Chinese scholar Lin Hong, said: is still only a dollar. Based in Kunming, the br> 2000 years, Wang was in Laos,cheap UGG boots, had a construction project, 80% of the contract before the two sides settled in U.S. dollars, 20% of the settlement with the Lao currency, the results to the end of the project, the Lao currency plunged 90%. Subsequently, another project agreement with the U.S. dollar clearing, but the U.S. dollar against the yuan in 2008 from the original fell to 6.8 from 8.3,
Wang various experiences and lessons learned to bring a lot of feelings, he said.
Wang said that although the performance of the RMB is currently very strong, but different countries in Southeast Asia for a variety of historical and practical reasons, will not quickly accept RMB, In addition, more willing to accept Thai baht rather than the RMB; Vietnamese are different, their acceptance of the RMB and the dollar is very close.
hope that some of the national policy to go further, particularly in Southeast Asia in very good condition, it should be trying to make a full range of RMB. so going out for Chinese enterprises will be very beneficial, in turn, the internationalization of the RMB will be promoted. , will increase the uncertainty of supply and demand in the currency market, as new regulatory issues; addition, the state how to maintain long-term stability of the RMB exchange rate, a monetary settlement can trust, it is a new problem.
Premier Wen Jiabao has said: , it is estimated there are more than 300 billion yuan in circulation outside China, but only 2% of total circulation of RMB, so the dollar will continue to dominate the Asian region.
present, the RMB outside the main remaining in private rather than government. According to preliminary estimates the People's Bank, the territory of Vietnam, the RMB is currently about 3.5 billion yuan in Thailand about 44 billion yuan in Mongolia about 6 billion yuan in Russia and Myanmar million at 30 million -5000 yuan, not including businesses and individuals in these countries in China's financial institutions opened, for Bianmao RMB settlement account. From the geographical point of view mainly confined to the active border trade activities with China, countries and regions, local color is very clear, so with the
In fact, when the Chinese Vietnamese in the surrounding area, Myanmar and the Lao people feel relatively easy to use, when the RMB, they will voluntarily hold. The reason is simple, as long as China's economy strong, strong value of the renminbi, will have more and more people are willing to hold neighboring countries or use of, all these people,
Although many Chinese goods to go to Southeast Asia, but if from China's customs, banking and tax and other related departments to view the data, will be obvious that the tiny volume of transactions, since the goods out, then how money is pay it?
many in Laos, Cambodia and other Southeast Asian countries, Chinese businessmen are doing business in China, told reporters that the problem the lack of overseas banks, local banks due to lack of trust and understanding, they very much hope that China will accelerate the establishment of A Zhejiang businessman investment in Laos, said: increased business activities, many large enterprises and companies involved in a number of border trade, which makes the traditional folk RMB cash settlement has been unable to meet their needs. The lack of clearing channels and inconvenience, a considerable number of border trade settlement is spread through a number of non-standard bank conducted underground banks, and some also use some of the larger cash settlement risk.
Ruili, Yunnan province, a businessman engaged in foreign trade business, said: costs has been one of the core business. currency, China-Burma border areas in the bizarre situation is that even began to implement a 2004 border trade exports are denominated in Renminbi for tax refund policy, all using the RMB settlement of goods exports, the real completion of formal channels through customs less than 3% of the total number of , the other through underground banks settlement, and even the goods have to go
banks of the service is very good, credibility is also high. they can delivery (cash) door, you can also domestic bank transfer, and underground money remittance fee generally 1%, the shortest a few hours, up to three to five days, which is an international bank settlement impossible. or they gave money to come is also OK; accept the money, and address, a phone banks of people will be able to notify the other party or a facsimile of their own people, the other party immediately and contact the recipient to quickly complete the whole process; herein, customers currency can make their own requirements, if business volume, the content can also exchange fees to bargain. the secrets of their own money exchanges known by others; In addition, a variety of underground banks also for domestic funds and offshore casinos corruption, smuggling and drug trafficking to money transfer services, so business has been booming.
fact, Ruili in Yunnan province, estuaries or areas such as border crossings, underground banking services have been long, even a strange outsider can easily find them, although some banks open a number of underground store cover for the eyes, but people in the are aware of their real content. However, underground banks also have their own set of audit procedures and work rules, first of all not all the business they are connected, then if there is trouble, they can even use evil means to resolve.
2004 onwards, on the border areas of Yunnan Province, However, according to the statistics branch of the central bank center in Kunming, Yunnan River area for at least now there are 17 RMB, financial loans and so on.
by Yunnan Provincial Department of Commerce as the At the same time that
Wenjun, for example, the Burmese border and the border with China have not established the BIS, Venus 2007, Myanmar exported to a group of machinery and equipment to trouble. Myanmar was paid on time payment of 400 million euros, using a bank transfer, bank drafts Venus companies to get early, but took almost six months before payment arrive, people are very anxious. He later learned that Myanmar could not this money directly into China, but transit through a third country after Singapore to China,
decent foreign exchange settlement institutions, and business and enterprise is necessary to do business, at all times cash flow, government services in these areas is clearly falling behind demand in the private. , they are far better than the power of the powerful. carried out secretly. According to the State Administration of Foreign Exchange in September 2003 release of can only be used under the border trade settlement funds receipt and payment, not for other purposes.
in Yunnan and Myanmar, Vietnam and Laos, business dealings, the latter mostly by the Chinese in business, or is involved in Chinese business, with the provisions of China's commercial bank account relaxed, almost all Chinese people in China, opened a bank account, so that many of the import and export transactions to the emergence of a strange phenomenon: the goods through the border, but they are nothing but money in the bank working in China; whether both Chinese and foreign businessmen in the business of export or import, money is flowing in the Chinese banks, and the use of all of the yuan.
Ruili City, a foreign businessman argued that the Government and the banks must consider how to go with the in order to accelerate the RMB settlement in the banking channels in the border trade the popularity of
soon to be expanded for national pilot RMB settlement policy, in Yunnan border business people said he agreed. However, East Asia, Laos, Yang Jiahua International Business Co., Ltd. managers believe that if the implementation of RMB regionalization of commercial banks in technology must also be modified accordingly, while the recognition in other countries is a long process. For example, at present, Asian countries, the bulk of trade between countries are settled using the SWIFT transfer system that is basically developed by the European and American countries, but the basic domestic commercial banks not involved in this transfer system. Meanwhile, in the regulation of operation, new business customs statistics, foreign exchange management issues such as the creation of the new model will be gradually revealed.
present, the world's only recognized international currency U.S. dollar, British pound and the euro, the yen was also seen as the main or even a regional currency. International Monetary to have the three main features, the first tool of international pricing of goods, followed by countries in the world to become a reserve currency and, finally, become a vehicle currency on the international market.
since the end of 2008, China and Russia, Mongolia, Vietnam, Myanmar and other neighboring countries signed eight bilateral currency settlement agreement independent choice and have been with South Korea, Hong Kong, Malaysia and Belarus and other countries and regions signed a total size of up to 480 billion yuan of currency swap agreements. This means that enterprises in these countries and regions, loans from local banks to RMB yuan to help enhance the acceptability of the neighboring countries. Can be expected in other neighboring countries will gradually realize the benefits of settlement after the RMB, there will probably choose to use.
now, China and ASEAN have been each other's fourth largest trading partner. In 2008, despite the world financial crisis, China-ASEAN trade continues to get better growth, bilateral trade amounted to 231.12 billion U.S. dollars, an increase of 13.9%. At the current pace, it is estimated 2009 total trade between ASEAN and China will exceed Sino-Japanese trade, making ASEAN the third largest trade partner of China. Boao Forum for Asia in the recent, China also proposed to give full play the role of bilateral currency swap agreements, study the expansion of swap lines, and a signatory range.
new generation of political and business leaders in Southeast Asia are betting on the rise of China is widely recognized on and take the impact of hedging measures to avoid weakening the United States suffered losses. Lei Siyu political situation in Southeast Asia but a mess and their own way, and not the same as the values of their countries, more prominent one is, Myanmar, Laos, Thailand, Indonesia and the Philippines and other countries there is also deep-rooted in the Ethnic separatist movement And ASEAN all these contradictions and problems, no doubt will seriously hurt the economic power of China's successful expansion in the region.
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(little knowledge)
in a range of border residents or business people in border areas with neighboring countries or enterprises in the border areas of trade in goods between the border trade is called, its two main forms: First, trade in border trade, which is based on trading behavior between individuals living on the frontiers of a trade, the border between the two sides open to residents in the specified point or specified fair, to not exceed the prescribed amount, the sale to allow the exchange commodities; second border trade, foreign trade companies in border areas that, in the border areas with neighboring countries, trade organizations or between the small business trade.
China border trade is characterized by small-scale border trade enterprises, small capacity, the small number of contracts,bailey UGG boots, the market narrow; geographically dispersed, decentralized country. Promote border trade in China provinces and autonomous regions are Guangxi, Yunnan, Tibet, Xinjiang, Inner Mongolia, Heilongjiang, Jilin, respectively, with Vietnam, Laos, Myanmar, India, Nepal, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Russia, North Korea, Mongolia and other countries to carry out trading activities in border areas; from self-employed to make the state-owned trading companies are involved in border trade, trade barter from the most primitive to the most modern paperless trade are present.
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