Dazhanhong “Rabbit”!The total amount of cross-border RMB receipts and payments in Tianjin hit a record high
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On the first working day of the Year of the Rabbit, the financial industry has sufficient motivation to support the city’s high-quality economic development. The reporter learned from the Tianjin Branch of the People’s Bank of China that the People’s Bank of China adheres to the orientation of serving the real economy, guides banks in this city to strengthen cross-border RMB financial services, and promotes the city’s cross-border RMB settlement volume to hit a record high. In 2022, the total amount of receipts and payments for the whole year will be about 342 billion yuan, achieving new breakthroughs in cross-border RMB settlements in key areas and a number of enterprises’ breakthroughs in cross-border RMB settlements in the field of bulk commodities, adding financial momentum to the city’s high-quality economic development.
It is reported that the Tianjin Branch of the People’s Bank of China has set up a special business counseling class to further promote the connection between banks and enterprises, guide banks to dig deeper into the needs of enterprises, formulate a “one-to-one” cross-border RMB settlement plan, and encourage enterprises to expand cross-border RMB applications. These include promoting enterprises to use RMB for settlement in various business scenarios such as cross-border trade, cross-border investment and financing, and strong support for the construction of the Qingshan Park project in Indonesia. At the same time, the People’s Bank of China last year helped enterprises carry out cross-border RMB settlement with the “Belt and Road” and ASEAN countries, with business volumes of 44 billion yuan and 21 billion yuan respectively, a year-on-year increase of 21% and 38% respectively over 2021.
In terms of supporting innovation in this city, the Tianjin Branch of the People’s Bank of China directed the innovative launch of a new dual-linkage business model of “futures + spot” and “limit + scale” in response to enterprises’ applications for using free trade accounts to carry out overseas futures hedging business, actively solving the problem of bulk The demand for effective capital circulation of commodity enterprises. At the same time, it supports the full-featured capital pool focusing on free trade, and continues to launch 8 types of new business pool construction scenarios such as online education and biomedicine, focusing on serving the characteristic industries in Tianjin. As of the end of 2022, the cumulative settlement volume of Tianjin free trade accounts has exceeded 640 billion yuan, and 16 free trade full-function fund pools have accumulated funds of nearly 20 billion yuan. In order to actively alleviate the settlement problems of small, medium and micro cross-border e-commerce enterprises, Tianjin Branch of the People’s Bank of China also promoted the cooperation between the first bank in Tianjin and domestic payment institutions to realize the implementation of RMB settlement projects for cross-border e-commerce, and solved the problem of fund settlement for cross-border e-commerce foreign trade enterprises. The problem of “difficulty, slowness, and delay” helps the healthy development of new foreign trade formats. By the end of 2022, the business handled will exceed 1.5 billion yuan.
The Tianjin Branch of the People’s Bank of China also closely focused on the needs of the real economy and guided Tianjin’s bank self-discipline mechanism to create version 3.0 of the cross-border RMB facilitation plan, encouraging banks to include more honest and green small, medium and micro enterprises in the scope of facilitation policy support and simplify business procedures , the process is more convenient and efficient. By the end of 2022, there will be 52 banks implementing cross-border RMB facilitation in Tianjin, and 670 high-quality enterprises, an increase of 19 and 372 respectively from the beginning of the year. The annual facilitation business volume exceeded 93 billion yuan, a year-on-year increase of 72%.
In the next step, the Tianjin Branch of the People’s Bank of China will effectively play the role of cross-border RMB business in serving the real economy and promoting trade and investment facilitation, continue to expand the radiation scope and benefits of cross-border RMB policies, actively help Tianjin’s “one base and three districts” construction, and strengthen regional Financial services serve the resilience of the real economy and support the high-quality development of the foreign-related economy in Tianjin.
(Tonight News reporter Liu Yingchao)
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