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Onthecross-bordertradeinRMBonChina’stradeimpactonAbstract:Atpresent,China’syuanhasinitiallyhavegoodconditionsforinternationalsettlement,theRMBexchangerateandChina’sinflationrateisrelativelystable;China’smoredevelopedfinancialmarketsandthegradualopeningupoftheseareimplementedaroundthetradeofChinaRMBsettlementtoprovidethenecessaryconditionsandstability.Keywords:cross-bordertrade;cross-bordertradeinRMByuanestimatefortheexpansionofChina’sforeigntradehasaveryimportantroleinincross-bordertrade,cross-bordertradeinRMBclearingbusinessisthemainbody,isalsothelargestbeneficiaries.cross-bordertradeinRMBroleinpromotingChina’sforeigntradeforthefollowingmainaspects.(1)cross-bordertradeinRMBwillhelpenterprisestoeffectivelyavoidexchangerateriskoutsidetheUnitedStatesandEuropeandJapan,companiesand7 tradebetweenChina’sdomesticenterprises,usuallybasedontheirdomesticcurrencydenominatedbalancesheet,sothattheresultingdollar,euroandJapaneseyenandtheRMBexchangerateriskbetweentheusuallybornemainlybydomesticenterprises.IftheRMBinternationalsettlement,thedomesticenterprisestowithstandthistypeofexchangerateriskcanbeavoidedthuswhentherenminbiforcross-bordertradesettlement,theuseofRMBinChinaandsurroundingareasforinternationalsettlementbusinessareexposedtoforeigncurrencyexchangerateriskcanbepartlyeliminated.(2)tohelpcleartheresultsofbusinessoperations,whenourtradesettlement,usuallytheresultsofitsoperationsmoretransparent,showingthecostofimportandexportbusinessbenefitsenterprisescanbemoreclearlyfixed,thusfacilitatingtheenterprisefinancialaccounting.(3)conductRMBbusinessofforeigncurrencysavingsinthecostsrelatedtoderivativestransactionswhennon-tradeenterprisesinthelocalcurrencyfor7 settlement,usuallycommissionedbythebanktoavoidexchangerateriskforderivativestrading,domesticcommercialbanksfromsellinglong-termresultsMeetingthestandardsofthecharges,buyingthree-monthU.S.dollartransactionamount2.5‰,soldthree-monthdollaramountofthetransactionfee5‰,whiletheaverageforeignbankofthetransactionfeesaregenerallyhigherthanthebanks,becauseofChina’senterprisereformandopeningupmajorinternationalsettlementinU.S.dollarsandotherinternationalcurrencytheeuroandtheyen,sotheexchangerateriskforthecontrolofalargenumberofforeigncurrencyderivativestransactioncosts,therebyincreasingtransactioncostsforfirms,weakenedtheinternationalcompetitivenessofChina’senterprises.Theuseoftheyuanforinternationalsettlement,China’senterprisestoavoidexchangerateriskderivativestransactioncostsincurredcanbegreatlyreduced.(4)RMBsavingsbusinesscausedbythetwoexchangesomeforeignexchangecostsofChina’sneighboringcountriesandtradebetweentheregionandmostofChina’suseofU.S.dollars,whileitsdomestic7 U.S.dollarcannotflow,sothatsettlementisusuallysubjecttocurrency-U.S.dollar-thecurrencyexchangetwice,thisoccursmainlyinthecompany’sinsidertradingamongtradeandiftheRMBforcross-bordertradesettlement,then,oneofwhichcanbeconvertedtoreducethecostsandsavings.(5)cross-bordertradesettlementinyuansettlementcanspeedupthepace,improvecapitalefficiency.Reducetheexchangeitselfisareducedcapitalflowsrelatedlinks,simplifyingthebillingprocess,improvecapitalefficiencywhileeliminatingtheneedforforeigncurrencyderivativestransactions,companiescanreducethecorrespondinginvestmentinhumanresourcesandassociatedcapitalinvestment,whichalsohelpcompaniesacceleratetheoperationspeed.LianPing,chiefeconomistatBankofview,theRMBsettlementforcross-borderopportunities,butthechallengesandopportunities.Renminbimayleadtoforeignclaimsandliabilities,foreignexchangemanagementinarangeofissuesintheoffshore7 renminbicreditanddebt,thecross-bordertradeinRMByuanheldbyforeigncompanieswillformthephenomenon,whichmayleadtomanyproblems.Intheforeignexchangemanagement,theRMBsettlementforcross-borderimportsandexportsmaymakethecurrentverificationsystemtherewasaseriesofoperationaldifficulties.Wecansee,theRMBsettlementpilot,itsrolecannotbeoverestimated.ThecurrentsizeofthestabilityoftheRMBtradesettlementandexpansionisstillsubjecttomanyfactors.(1)RMBisstillinthepilotphase,isextendedtoHongKongandASEANcountriesandregionsotherthantheexperimentalresultsbutalsoaccordingtothesteadyprogress.(2)eveniftheRMBsettlementtoexpandtoothercountries,thescaleiswellreceivedbyitsusebelimitedtothesizeoftheRMBheldbythesecountries,butalsolimitedtheuseofRMBoutsidethecustomer’7 swishes.Inaddition,thecurrentinternationalfinancialcrisisisstillspreadingcase,ourprogressthelevelofexportgrowthmainlydependsonrecoveryindevelopedcountrymarketsinEuropeandAmerica,fromthisperspective,theRMBsettlementofadirectstimulatingeffectonexportsremainstobeseen.First,theestablishmentofamaturefinancialmarkets.China’scurrentlackofmaturityoftheoffshorerenminbisettlementcenter,amaturemarketandtheRMBforwardrateofRMBtoforeigninvestorsinfinancialmarketsopenandonlytheestablishmentofamaturefinancialmarketsinordertoprovidemoreRMB-denominatedfinancialproducts,topromotetheinternationalizationoftheRMBstable.Second,istoenhancetheacceptabilityoftherenminbi,Chinahasnotyetfullyopencapitalaccount,theRMBhasnotbeenachievedfullyconvertible,theRMBexchangerateisnotentirelydeterminedbymarketforces,whichlimitsthegrowthoftheyuantobecomeatrueinternationalcurrency,butstillhavetobearthe7 foreignexchangeraterisk,sothepublicitytoexternalcompaniesarealsoimportant.Linkstofreedownloadhttp://eng.hi138.comFinally,isasoundregulatorysystemandimprovetheRMBWiththeRMBandforeignexchangeincreasedcross-bordercapitalflows,tradesettlementinRMBwillcontinuetoincreaseinproportion,inordertoeffectivelycontroltheoffshorerenminbicapitalrequirementsonmonetarypolicyandcurrencystabilityimpactontheneedtoestablishaneffectivemonitoringsystem.Inaddition,theRMBsettlementofenterprisesinvolvedinbackgroundchecks,creditcontrolandsettlementoftheirprojectsisalsonecessary.Linkstofreedownloadhttp://eng.hi138.com7
