Home Business Three departments: Improve exchange rate hedging products and services to further enhance the convenience of RMB cross-border settlement

Three departments: Improve exchange rate hedging products and services to further enhance the convenience of RMB cross-border settlement

by admin
Three departments: Improve exchange rate hedging products and services to further enhance the convenience of RMB cross-border settlement

On May 26, the Ministry of Commerce, the People’s Bank of China and the State Administration of Foreign Exchange issued a notice on supporting foreign economic and trade enterprises to improve their exchange rate risk management capabilities.

The notice proposes to improve exchange rate hedging products and services, and further enhance the convenience of RMB cross-border settlement. The branch offices of the People’s Bank of China and the foreign exchange bureau in various places shall encourage banks to provide products and services that meet market demands on the basis of the “Three Principles of Business Development” and “implement policies tailored to the characteristics of enterprises”. Banks are encouraged to continuously improve the service capabilities of primary institutions for RMB against foreign exchange derivatives, innovate products and service channels, and support small and medium-sized banks to cooperate in handling RMB against foreign exchange derivatives services, so as to meet the diversified exchange rate hedging needs of enterprises. Further facilitate enterprises to use RMB in cross-border trade and investment, and encourage enterprises to avoid exchange rate risks through RMB cross-border pricing and settlement.

This content is original by Yicai, and the copyright belongs to Yicai. Without the written authorization of CBN, it may not be used in any way, including reprinting, excerpting, copying or creating mirror images. Yicai.com reserves the right to pursue legal liability of infringers. For authorization, please contact Yicai Copyright Department: 021-22002972 or 021-22002335; [email protected]
See also  The RMB exchange rate fell: overseas institutions "temporarily" left the market due to margin calls, and the trend of global capital addition remains unchanged_Emerging Markets_Hong Kong Bank_Overseas Institutions

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy