China To Further Expand Scale Of Rmb Settlement For Cross-border Trade

The General Office of the State Council recently issued a guideline on stabilizing scale and optimizing structure of foreign trade, which calls for improving cross-border settlement services. It will encourage financial institutions to innovate and improve foreign exchange derivatives and cross-border RMB business, further expand the scale of cross-border RMB trade settlement, and better meet the needs of foreign trade enterprises for exchange rate hedging and cross-border RMB settlement.

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