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RMB Settlement in Cross-Border Trade Started in Shantou City
Date: 2010-04-02      Source:

The settlement in Renminbi in cross-border trade is an effective channel for Shantou to develop its world market. In accordance with the deployment of the Provincial Government, Shantou will make efforts to facilitate the pilot RMB settlement in cross-border trade and further promote the reform and development in foreign trade and finance. On February 26, after attending the Guangdong Province Teleconference on Furthering Pilot RMB Settlement in Cross-Border Trade, Shantou government held a meeting to discuss the issue and make relevant arrangements.

RMB settlement in cross-border trade has proved to be effective since its launch in Guangdong Province last July. The Provincial Government's decision to promote RMB settlement in more pilot regions will be good news to Shantou's foreign trade industry. It will promote the economic and trade exchange between Shantou and neighboring countries and regions, and facilitate Shantou's integration and cooperation with Guangdong, Hong Kong, Macau and the Economic Zone on the West Bank of Taiwan Strait. It will also be beneficial to the steady growth in foreign trade in terms of avoiding exchange rate risks and improving trading environment.


Source: Shantou Daily March 1, 2010




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