Fly referral of the Yunnan Branch of China Development Bank, intend to the Government of Myanmar to provide RMB loans. the Myanmar government hopes credit euros, but it is unwilling to accept the euro Libor rate plus a few points of CDB financing costs .
RMB International Settlements countries are pushing, and I for their matchmaking, but also a grain of sand to make the credit. No other performance, a piece of paper the order of the Government of Myanmar to prohibit the export of forestry mining investment 30 million U.S. dollars of trade Jifeidanda, he had to switch to start tea trade.
this will be his natural gas pipeline project in Myanmar a good opportunity to make a comeback.
However, the mainland business to Myanmar, the RMB not as smooth at the border, a number of complex financial transactions. Euro clearing, I will be paid in RMB in the domestic money entrusted to an agency, they helped me into the euro be remitted to the Burmese government accounts. Not only the money go for a long time, but also pay a processing fee. If the RMB, I shall direct hit, and then let in Myanmar COSCO transported me back on the line. extended to the province's border city of eight districts, from the previous of Burma, Laos, Vietnam and Thailand expanded to ten countries of ASEAN. br> Egypt Health International Investment Limited, Chairman of Qiao Xinyu, Vietnam and other neighboring countries in the development of mineral resources in the trade for many years, the circulation of RMB in Vietnam, has personal experience.
, payment in, they do not close, to U.S. dollars; then again, with the RMB exchange points, and more and more; go to directly to the yuan, the Vietnamese traders took the yuan, or held, or to exchange.
2006,2007, the Yunnan border trade has reached RMB accounting for about 91%. 2008 by the global financial crisis, border trade was 3.696 billion yuan RMB, up slightly, but still accounted for RMB 90.2 %.
Moreover, the Myanmar border in Yunnan, DC, the RMB has become the currency of daily use of local residents.
Xishuangbanna, People's Bank of China, Central Branch, deputy chief Zhang Yongqiang, long-term concern in Yunnan border circulation of RMB in 2007, he had to Xishuangbanna and Myanmar, Laos, Thai border to investigate the circulation of the RMB.
he told correspondents: pull, the RMB has been replaced as the main currency kyat, Meng Ventura County in the small shop, take a taxi, pay the cost of all hotels with RMB, the local government tax revenue, paid government officials, military pay and so the use of RMB. 6 billion, more than in previous years when up to l0 million.
but under the jurisdiction of the Regional Government of Myanmar, the RMB is not allowed circulation. so the flow of Myanmar currency and the RMB is mainly carried out through the underground black market.
Myanmar Overseas Chinese Wang Yushun, childhood living in Myanmar. Currently in Ruili City, Yunnan, 500 km from the about to do in Myanmar noodle business,cheap UGG boots, but also between domestic and imported some chemical materials shipped to Myanmar to sell.
he told correspondents, Myanmar is not a foreign bank. last year, Myanmar devaluation is very powerful, is 100 kyat a month ago on the RMB for 0.70, now only for 0.64 yuan. or to buy gold, real estate, or into RMB deposit. Chinese and overseas Chinese in Myanmar are generally open a RMB account in China, some large businesses in Thailand, Singapore also opened a RMB account. In Laos, to the free flow of RMB, but since the old currency and the RMB exchange rate fluctuations more frequently, instability, and Laos and the Chinese Renminbi lack of understanding of the financial sector, the Lao banks to conduct RMB business not only to conduct RMB business on behalf of custody, not pay interest, but also pay the storage fee. However, the main border trade settlement currency, or renminbi. Most are accustomed to in Renminbi. RMB in almost all North Korean border city even in the whole territory, has become the settlement money, commodities trading, as one of hard currency reserves of the currency.
Vietnam, Myanmar , Russia, Korea and other countries are mostly tourism-related industries, departments,UGG boots clearance, and retail goods, are receiving the RMB, and the daily publication of its currency the yuan parity.
the border with China in yuan but there is a Mongolian border A.
However, perennial and from Burma, Thailand, Laos, Yang Hongwu any of the shipping boss told correspondents: . lifted the veil of RMB regionalization.
Today, Yunnan border trade more than 90% RMB, Korean, Sino-Mongolian border, this ratio is quite high, Erenhot City Branch of the People's Bank of China Wang Limin In the > However, Sino-Russian border in the northeast, and the Xinjiang-Kazakhstan border, the RMB settlement of border trade did not like the above.
2003, the Heihe City started a pilot RMB settlement of border trade between China and Russia, 2005 formally extended to all border areas of Heilongjiang Province, ports. Then, all the ports yuan trade settlement amount increased year by year, but so far, ruble settlement in the border crossings are still dominant.
in Mongolia for the settlement money has not only settled the RMB alone; in China and Nepal and the DPRK in the settlement of bank currency, the RMB is only involved in settlement. But the exchange between China and Russia to open another bank settlement account of the currency, and did not do two-way use. Rubles RMB account balance and account balance converted into U.S. dollar a day back to their respective countries, the balance is cleared when the Japanese currency. high, Russia is also pushing their currencies. closely related to traditions and relations among major powers.
2003 年 3 month of Heilongjiang Province and Russia settlement currency, the ruble and the yuan has been extremely uneven state of the volume of business to run, the amount of 2005 rubles settlement is created reached a record 274 times the amount of RMB settlement. In Russia, announced that from 1 July 2006 the ruble became convertible currency, the RMB settlement with the ruble is not balanced, so the state does not expand.
particular Russia to use its resources to build oil rubles, and export of some resource products, requiring importing countries to use rubles for clearing, but also increased the difficulty of convertibility of the RMB.
the Xinjiang-Kazakhstan border, the RMB settlement of international trade , has just started.
in Xinjiang and 148 countries and regions in economic and trade cooperation, Kazakhstan overwhelmingly occupy the largest trade partner of Xinjiang's position, at present, import and export of Xinjiang and Kazakhstan, accounting for Xinjiang's foreign trade import and export over 60% of the total, should be said that RMB has a good foundation for the market. But in the Kazakh border trade settlement, there is no progress so far.
Xinjiang People's Bank of China branch Xu Airong Huocheng of correspondents, said: have not signed bilateral currency swap agreement or to facilitate the operation of the supporting measures. each agency has been established, is also true.
Central Branch of People's Bank of Xishuangbanna in Yunnan, Zhang Yongqiang, Burma, Laos and Thailand border inspection found that a small Meng at a distance of 88 km of the Government of Myanmar to pull jurisdiction King King Dong Dong Province's capital city, the spot can provide a 100 million yuan in cash, most of the stalls a few million to more than ten million yuan in cash stock. Namtha Province in Laos Meng County, would also like to pay taxes.
For example, I set out for you in Thailand, a number of goods,Discount UGG boots, to tell you an account, you hit enter, and finally I got the Thai baht. This is a private trust, we do not know each other. into the hands of the Lao customer funds through third countries such as Singapore, to transfer the funds credited into account the cost of needed some time. br>
So, if you do not involve huge amounts of money, merchants are willing to spread the banks exchange rate.
in Myanmar, according to Wang Yushun to say, the government spread the banks , Laos and even linked to the business license to allow banks to open stall.
surrounding the national currency the yuan exchange rate mechanism has not been established, mutual exchange barrier, the other national bank can not accept deposits in Renminbi, the Chinese People's Bank is also the amount of RMB immigration restrictions. businessmen doing business in the border country, in order to avoid exchange losses, invented a import business people need dollars or Thai baht, talk about the good exchange rate, and then into RMB.
> China-Burma border, RMB Burmese border are used to, those farmers Na Zhaoqian, sun Douyi Dou, see is not true, the dollar they do not know ah. Vietnamese commercial banks and commercial banks to establish a clearing agency cooperation, through bilateral bank settlement accounts in the form of currency format for the settlement of border trade for businesses and individuals.
another method of settlement of the official banking channels more convenient . This measure RMB for Yunnan border trade played a catalytic role.
2008.12 months, the State Council meeting agreed that a timely start of Yunnan, Guangxi and ASEAN countries border the internationalization of RMB Trade Settlements.
Once the pilot roll out, the RMB counterpart positions in countries and regions come from? this problem is not resolved, can increase the size of the export. early March 2009, the leaders of relevant departments of the State Council report, the Yunnan Provincial Commerce Hall raised the issue.
even just promote border trade in the Sino-Mongolian border RMB settlement in 2007, the People's Bank of China branch to hit RMB Erenhot positions shortage problem, as the border line of trade, the RMB account settlement, so that the two designated foreign exchange banks Erlian difficult to resolve millions of dollars each year in the yuan and the dollar amount of foreign exchange conversion.
address this issue, now have a prescription at the central level, March 29, the central bank has met with South Korean central bank, the Hong Kong Monetary Authority, Bank Negara Malaysia, Belarus, the Central Bank, Indonesia Central Bank of Argentina Central Bank and signed a total of 650 billion yuan in the six copies of the bilateral currency swap agreements.
the other hand ,UGG bailey button, barrier between the two countries exchange, funds transfer to third countries by the situation, this year is expected to break. institution to open accounts and the Lao currency U.S. dollar clearing accounts, Laos implementation of the implementing agencies in China to open RMB and U.S. dollar agency clearing accounts), the use of bank drafts and transfer of border trade in two ways border trade settlement instructions.
China's central bank is still with the other central banks in consultation with similar needs. multi-estimated, and independent choice of China signed a bilateral currency settlement agreement, Mongolia, Vietnam, Myanmar and other neighboring countries, it is a currency swap may be the next country.
The source of correspondents, said: to the domestic and then into RMB, such complex procedures, many of the exchange differences to bear the loss. very difficult to buy dollars, teams had to wait a long time, the direct use of the RMB settlement to be much more convenient. . The RMB out of the country, trade with ASEAN countries to achieve RMB settlement, such as the new hope will make the same investment or trade in the neighboring countries directly benefit domestic companies.
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