Zhejiang Province shoes for the cross-border RMB settlement business burdens
"Exchange rate and high innovation." Exchange rates to see displayed on the computer, financial manager of Wenzhou shoes Jindi Mr. Yung sighed. For more than 100 million U.S. dollars annual export enterprises, the frequent fluctuations in the exchange rate risks. China Foreign Exchange Trade Center from the latest data show that on August 24 reported that the central parity of RMB against the U.S. dollar 6.3896, then the foreign exchange reform has been high.
Recently, cross-border trade within the geographical scope of RMB settlement to the country. Known as "RMB for the first time sailing," the cross-border Renminbi trade settlement has been entered for the biennium. Reporters visited Zhejiang Province shoes and apparel business, they noticed that the pilot did not set up to bring shoes and apparel foreign trade company settled in RMB, "a key to start." Part of the test the water tasted the sweetness of shoes and apparel companies, some companies because customers do not accept the delay in taking the step.
RMB, the priority orders
"Application for the pilot year, and recently finally tried a business, good results and then promote." Yesterday, Le Conte Shoes Co., Ltd. Finance Manager Wengjing Li over the phone a little bit excited. He said business is cross-border trade in RMB, the company settled the first batch of local Wenzhou, one of the pilot.
"This time around, try to convince customers in Germany." Wengjing Li said Conte footwear customers mainly in Germany, Finland, the United States, has been settled in U.S. dollars, to reverse this practice, the struggle to find.
June of this year, customers in Germany and Le Conte who signed a shoe RMB settlement agreement, to which a number of goods as a pilot. Mr. Weng calculations: with foreign companies that signed an endorsement contract price of $ 6.65 shoes / double, according to the date of the exchange rate of RMB against the U.S. 6.45:1, this pair of shoes to a book on corporate money is 42.89 yuan. Currently the shipment has been declaration, the end of the full amount can be credited into account.
If the dollar settlement, according to yesterday's RMB exchange rate against the U.S. dollar 6.374:1 actually credited into account the money is only 42.3871 yuan, a pair of shoes there are 0.5 yuan price difference, and the total shipment of more than 7,000 pairs of shoes. "In order to avoid exchange rate risk, exchange rate will be locked to the way forward, but each time faster than expected RMB appreciation will." This year, the RMB has appreciated against the U.S. dollar to more than 3%.
"Switch to the RMB settlement, this problem does not exist." Wengjing Li said, the premise is the customer willing to accept. According to regulations, the other in Hong Kong to open RMB accounts.
Thai Footwear Co., Ltd. Jiangsu Taizhou local foreign trade enterprises in the first 19 months to apply for a pilot cross-border trade in RMB clearing business. Down more than six months, the chairman Wang Jianglin mixed feelings. "Now I see a new customer every first asked him willing to use RMB settlement, if the other party is willing, on priority orders."
Most customers do not "cold"
The reporter also learned that most of the RMB settlement business in cross-border, there is still obstacles. "Peer around the little settlement in yuan, most of the foreign is difficult to accept." Wengjing Li said.
"Enterprise did not use their own wishful thinking, a sense of the problem is that customers are not interested." Said this is the Zhejiang Xinda Group Chairman Jiang Yimin. As the first batch of Zhejiang Province, the RMB settlement of cross-border trade, one of the pilot, the group had so far not implemented a RMB settlement business.
Import and Export Co., Ltd. Zhejiang Rui and head are the same. Taking into account the customer's acceptance, they have chosen the amount of 100 million yuan in the cooperation of customers in the implementation, the effect is still not clear. "Speak the truth, mainly customers find the process cumbersome to use RMB settlement, and the exchange differences without too much profit." Cooperation model in a mature European and American market, if you want to reverse, unless there is a huge attraction.
Foreign parties are Counting bottlenecks to be solved
Although cross-border renminbi settlement began to fast, but there are many bottlenecks.
First, foreign buyers, especially American and European countries traders acceptance of the RMB is not high. "We not only afterwards, foreign also afterwards, because the appreciation of the RMB exchange rate is the general direction, so do not want to bear the foreign exchange rate risk of the transfer of Chinese enterprises." Wenzhou Foreign Trade Bureau official said.
Meanwhile, the settlement amount is relatively small since the pilot. The data from the Department of Commerce, Zhejiang Province in the first half of RMB total settlement amount of trade in goods (excluding services trade settlement amount) relative to the same period in the province's total import and export trade, accounting for less than 4%. In the first half of the province have received payments of RMB real business took place a total of 1748 enterprises, which is the province's 40,000 homes and 6709 import and export enterprises exported the first batch of pilot enterprises, the enterprises to participate in the surface is clearly not big enough.
Zhejiang International Trade and Economic Research Center Director Zhang Handong table said, the domestic foreign trade settlement in more than 90% in U.S. dollars. By the dollar-based trade settlement makes a lot of foreign trade enterprises have been subject to foreign exchange fluctuations, or even seriously reduced the profits of the enterprise space, but in the RMB is not internationally accepted money under the premise of small and medium enterprises to promote the use of RMB is quite difficult. From another perspective, the current lack of pricing power export of Zhejiang, the right to speak is also a key reason.
Zhejiang burdens 150 million yuan more than 1,700 companies
From the Central Branch of Hangzhou, People's Bank of China has learned the first half of the province's total cross-border renminbi settlement business volume exceeded a thousand billion mark, reaching 100.587 billion yuan, in 2010 to 8.2 times the settlement amount. Especially from April this year, the province's cross-border trade in RMB clearing monthly volume has been ranked fourth in the country, to the end of June first half of the total settlement amount has risen to fourth in the country. As of the end of June this year, Zhejiang Province, has accumulated 58 countries and regions and carried out cross-border renminbi settlement business.
Currently the province has more than 1,700 companies try to use in cross-border transactions in RMB, according to preliminary estimates, the first half of this year, with RMB savings for businesses or at least reduced by more than 150 million yuan in foreign exchange costs and exchange rate losses.
"Exchange rate and high innovation." Exchange rates to see displayed on the computer, financial manager of Wenzhou shoes Jindi Mr. Yung sighed. For more than 100 million U.S. dollars annual export enterprises, the frequent fluctuations in the exchange rate risks. China Foreign Exchange Trade Center from the latest data show that on August 24 reported that the central parity of RMB against the U.S. dollar 6.3896, then the foreign exchange reform has been high.
Recently, cross-border trade within the geographical scope of RMB settlement to the country. Known as "RMB for the first time sailing," the cross-border Renminbi trade settlement has been entered for the biennium. Reporters visited Zhejiang Province shoes and apparel business, they noticed that the pilot did not set up to bring shoes and apparel foreign trade company settled in RMB, "a key to start." Part of the test the water tasted the sweetness of shoes and apparel companies, some companies because customers do not accept the delay in taking the step.
RMB, the priority orders
"Application for the pilot year, and recently finally tried a business, good results and then promote." Yesterday, Le Conte Shoes Co., Ltd. Finance Manager Wengjing Li over the phone a little bit excited. He said business is cross-border trade in RMB, the company settled the first batch of local Wenzhou, one of the pilot.
"This time around, try to convince customers in Germany." Wengjing Li said Conte footwear customers mainly in Germany, Finland, the United States, has been settled in U.S. dollars, to reverse this practice, the struggle to find.
June of this year, customers in Germany and Le Conte who signed a shoe RMB settlement agreement, to which a number of goods as a pilot. Mr. Weng calculations: with foreign companies that signed an endorsement contract price of $ 6.65 shoes / double, according to the date of the exchange rate of RMB against the U.S. 6.45:1, this pair of shoes to a book on corporate money is 42.89 yuan. Currently the shipment has been declaration, the end of the full amount can be credited into account.
If the dollar settlement, according to yesterday's RMB exchange rate against the U.S. dollar 6.374:1 actually credited into account the money is only 42.3871 yuan, a pair of shoes there are 0.5 yuan price difference, and the total shipment of more than 7,000 pairs of shoes. "In order to avoid exchange rate risk, exchange rate will be locked to the way forward, but each time faster than expected RMB appreciation will." This year, the RMB has appreciated against the U.S. dollar to more than 3%.
"Switch to the RMB settlement, this problem does not exist." Wengjing Li said, the premise is the customer willing to accept. According to regulations, the other in Hong Kong to open RMB accounts.
Thai Footwear Co., Ltd. Jiangsu Taizhou local foreign trade enterprises in the first 19 months to apply for a pilot cross-border trade in RMB clearing business. Down more than six months, the chairman Wang Jianglin mixed feelings. "Now I see a new customer every first asked him willing to use RMB settlement, if the other party is willing, on priority orders."
Most customers do not "cold"
The reporter also learned that most of the RMB settlement business in cross-border, there is still obstacles. "Peer around the little settlement in yuan, most of the foreign is difficult to accept." Wengjing Li said.
"Enterprise did not use their own wishful thinking, a sense of the problem is that customers are not interested." Said this is the Zhejiang Xinda Group Chairman Jiang Yimin. As the first batch of Zhejiang Province, the RMB settlement of cross-border trade, one of the pilot, the group had so far not implemented a RMB settlement business.
Import and Export Co., Ltd. Zhejiang Rui and head are the same. Taking into account the customer's acceptance, they have chosen the amount of 100 million yuan in the cooperation of customers in the implementation, the effect is still not clear. "Speak the truth, mainly customers find the process cumbersome to use RMB settlement, and the exchange differences without too much profit." Cooperation model in a mature European and American market, if you want to reverse, unless there is a huge attraction.
Foreign parties are Counting bottlenecks to be solved
Although cross-border renminbi settlement began to fast, but there are many bottlenecks.
First, foreign buyers, especially American and European countries traders acceptance of the RMB is not high. "We not only afterwards, foreign also afterwards, because the appreciation of the RMB exchange rate is the general direction, so do not want to bear the foreign exchange rate risk of the transfer of Chinese enterprises." Wenzhou Foreign Trade Bureau official said.
Meanwhile, the settlement amount is relatively small since the pilot. The data from the Department of Commerce, Zhejiang Province in the first half of RMB total settlement amount of trade in goods (excluding services trade settlement amount) relative to the same period in the province's total import and export trade, accounting for less than 4%. In the first half of the province have received payments of RMB real business took place a total of 1748 enterprises, which is the province's 40,000 homes and 6709 import and export enterprises exported the first batch of pilot enterprises, the enterprises to participate in the surface is clearly not big enough.
Zhejiang International Trade and Economic Research Center Director Zhang Handong table said, the domestic foreign trade settlement in more than 90% in U.S. dollars. By the dollar-based trade settlement makes a lot of foreign trade enterprises have been subject to foreign exchange fluctuations, or even seriously reduced the profits of the enterprise space, but in the RMB is not internationally accepted money under the premise of small and medium enterprises to promote the use of RMB is quite difficult. From another perspective, the current lack of pricing power export of Zhejiang, the right to speak is also a key reason.
Zhejiang burdens 150 million yuan more than 1,700 companies
From the Central Branch of Hangzhou, People's Bank of China has learned the first half of the province's total cross-border renminbi settlement business volume exceeded a thousand billion mark, reaching 100.587 billion yuan, in 2010 to 8.2 times the settlement amount. Especially from April this year, the province's cross-border trade in RMB clearing monthly volume has been ranked fourth in the country, to the end of June first half of the total settlement amount has risen to fourth in the country. As of the end of June this year, Zhejiang Province, has accumulated 58 countries and regions and carried out cross-border renminbi settlement business.
Currently the province has more than 1,700 companies try to use in cross-border transactions in RMB, according to preliminary estimates, the first half of this year, with RMB savings for businesses or at least reduced by more than 150 million yuan in foreign exchange costs and exchange rate losses.
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