RMB Cross-Border Settlement
1) Product Overview:
RMB Cross-border settlement, means the international settlement business that the import-export enterprise conducts the customs clearance in RMB in cross-border trade and the bank offers the enterprise with RMB as cross-border settlement currency according to related provisions. CCB “Kuajing Tongtu” RMB cross-border financial service avoids the risk of exchange rate fluctuation to make a smooth and worriless international trade.
2) Product Function/Applicable Target:
1. Domestic import and export enterprise, the export under current cargo trade is limited to pilot export enterprise.
2. Enterprises can currently transact four major kinds of products under cross-border trading RMB settlement, including settlement product, financing product, fund transaction product and portfolio product.
3) Product Advantage/Feature:
1. Effective avoidance of exchange risk brought about by the exchange fluctuation.
2. Simplify business procedure (clearance of goods requires no foreign exchange verification form, and no formality required to be operated in the bureau of foreign exchange.)
3. Facilitate enterprise accounting import cost and export revenue.
4. Central reflection of industrial position and favorable credit.
5. RMB fund under export can be retained overseas.