男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

US EUROPE AFRICA ASIA 中文
Business / Markets

Yuan surges in cross-border trade

(Xinhua) Updated: 2014-07-18 09:30

Yuan surges in cross-border trade

A yuan exchange site at a cross-border trade area in Dongxing, Guangxi Zhuang autonomous region. Since 2009, the People's Bank of China has established currency swap lines with 23 foreign central banks.[Photo/Xinhua]

BEIJING - The value of cross-border trade via the Chinese currency?yuan totaled 3.27 trillion yuan ($531.15 billion) in the first half of 2014, up 1.22 trillion yuan year on year, latest data from China's central bank showed.

Analysts said the fast rise of the yuan in cross-border trade is closely related to the growth of the offshore yuan markets overseas.

Since this year, the Chinese central bank has signed memoranda of understanding with five other central banks on launching yuan-clearing business, with the Bank of Communications becoming the latest bank authorized as the clearing bank for yuan business in Seoul. The other arrangements were agreed in Europe's London, Paris, Frankfurt, and Luxembourg.

"The yuan clearing arrangements in Europe have certainly drawn much attention, but it is because there is a massive market demand out there," said Wu Bin, general manager of the international business department under the Industrial and Commercial Bank of China, China's biggest bank.

Government data showed bilateral trade between China and Europe hit almost $730 billion in 2013, up 6.9 percent year on year. Meanwhile, Europe currently accounts for more than 10 percent of the yuan's cross-border trade settlement worldwide, second only to Hong Kong.

Global payments in yuan have continued to expand since China launched yuan settlement for cross-border trade in 2009. Data showed the Chinese currency accounted for 1.62 percent of global payments by March, ranking seventh worldwide.

Despite the yuan's climb, it still lags behind the US dollar and the euro in global acceptance. "In order to make the yuan become a mainstream settlement currency globally, we have to make overseas investors willing to hold yuan products," said Huang Zhiling, chief economist of the China Construction Bank.

Huang said that the establishment of yuan clearing banks is an important step by China to promote the global reach of its currency, but it is just the beginning.

Yuan surges in cross-border trade

Yuan surges in cross-border trade

London, eurozone set to benefit from increased RMB trade Market eventually will 'decide rate' of yuan exchange

 

 

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 泾源县| 杭锦旗| 鄂尔多斯市| 印江| 高唐县| 卢湾区| 平定县| 通江县| 荔波县| 乐至县| 民勤县| 嘉兴市| 柘城县| 余干县| 陕西省| 鄄城县| 宜兴市| 获嘉县| 花垣县| 灵台县| 泗阳县| 内乡县| 兴隆县| 德化县| 屯昌县| 青神县| 桃源县| 登封市| 黄冈市| 牙克石市| 全州县| 鄂托克旗| 资源县| 扎囊县| 辽源市| 台南市| 江北区| 津市市| 汤原县| 峨山| 简阳市|