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

RMB internationalization benefits whole world

(Xinhua) Updated: 2015-01-23 13:40

BEIJING - The internationalization process of China's currency has made a new stride forward during the ongoing World Economic Forum annual meeting, with Beijing and Bern inking a deal to expand financial cooperation.

Under the agreement, signed Wednesday in the Swiss ski resort of Davos, China gives Switzerland an $8 billion investment quota under its Qualified Foreign Institutional Investor program, and the two sides plan to open a Chinese bank in Zurich for future renminbi clearance.

With China having become a leading economy and trading power, the renminbi's cross-border settlement has been surging. Official figures show that the volume shot up from an equivalent of 580 million dollars in 2009 to 1.3 trillion dollars in the first 10 months of 2014.

A report released last November by Belgium-based global payment services company SWIFT ranked the renminbi as the seventh payments currency in the world. In 2011 it ranked the 21st.

China is moving steadily along the path of renminbi internationalization, following a strategy described as "crossing the river by feeling the stones." So far 12 cities, including Hong Kong, London, Paris and Sydney, have officially announced the establishment of an offshore renminbi center.

The benefits are clear. For Chinese banks, the process provides a strategic opportunity to follow their clients abroad and develop their international payments clearing business.

Chinese companies, especially small- and medium-sized ones, can use the renminbi for cross-border trade instead of a foreign currency, thus reducing its foreign exchange costs and risks.

For foreign companies, the process will facilitate their business with more Chinese enterprises, helping increase the overall size of trade, diversify their assets, and hedge against depreciation of one currency.

Analysts described the path of the renminbi internationalization as a three-phase process: using the currency first for trade, then for investment and in the longer term as a reserve currency.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 湘阴县| 上饶县| 安康市| 武乡县| 长顺县| 宜兴市| 万山特区| 和林格尔县| 本溪市| 蓬溪县| 禹州市| 石泉县| 承德市| 徐州市| 天台县| 那坡县| 榕江县| 孝义市| 抚远县| 乡宁县| 垣曲县| 高清| 东乌| 岳西县| 绍兴县| 安化县| 合川市| 德庆县| 大丰市| 灌云县| 资讯 | 遂宁市| 水城县| 聂拉木县| 郧西县| 锡林浩特市| 阿坝县| 肇东市| 扎囊县| 土默特左旗| 海安县|