According to Hong Kong media reports, Hong Kong's current renminbi business involves RMB deposits, exchanges, remittances, cross-border trade settlements, trade finance and loans, bonds and insurance policies. Xie Guoliang, head of the Bank of China's Hong Kong Economic Research Division, believes that Hong Kong's renminbi business in the near future. The two major businesses of cross-border trade settlement and RMB bonds have a large space for development.
The pilot city expanded to Jiangsu, Zhejiang Province, starting July 1, last year, Hong Kong and the Mainland began piloting cross-border trade settlement of RMB. The central government approved Hong Kong enterprises to conduct cross-border RMB cross-border with pilot enterprises in five cities of Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan. Trade settlement. Su Ning, the deputy governor of the People's Bank of China, recently revealed that the pilot of cross-border trade settlement in the mainland will be expanded to 14 cities.
According to mainland media reports, the newly added pilot cities for RMB cross-border trade settlement include Suzhou, Wuxi, Changzhou and Nantong in Jiangsu Province and Hangzhou, Ningbo and Wenzhou in Zhejiang Province.
Although the current amount of RMB cross-border trade settlement between Hong Kong and the Mainland is still small, the related business has grown rapidly in the near future. Xie Guoliang said that in the future, the number of pilot cities for cross-border trade settlement in the Mainland will increase to 14 and will bring new stimulus to the cross-border trade settlement of the RMB. He is optimistic about the development potential of the business in the near future.
Chen Wen, deputy general manager of BOC Hong Kong's corporate banking and financial institutions, revealed that as of the end of March this year, the amount of RMB cross-border trade settlement through the bank has exceeded 2 billion yuan (RMB, the same below), compared with the end of December last year. More than 300 million yuan, more than 5 times the increase. It is reported that BOC Hong Kong, as the clearing bank for RMB cross-border trade settlement in Hong Kong, currently accounts for about 40% of the cross-border trade settlement market in Hong Kong. Based on this calculation, the cumulative amount of RMB cross-border trade settlement in Hong Kong by the end of March this year exceeded 50. 100 million yuan.
Bank accounted for 40% of the Hong Kong settlement market
It is reported that from July 1 last year, Hong Kong and the five cities in the Mainland piloted the cross-border trade settlement of RMB to the end of March this year. The total number of relevant settlements involving BOC Hong Kong reached 214, the number of which is not large, but the figures are It also has a significant increase from the cumulative number of about 90 cases at the end of December last year.
In response to the potential of the future RMB cross-border trade settlement market, BOCHK has recently launched a higher-profile trade finance and loan service based on the Hong Kong Bank RMB Interbank Rate (CNYHIBOR). However, the amount of RMB trade finance and loans currently involved in Hong Kong banks is not large. Chen Liangcai, head of HSBC's business and industry business, recently said that the current number of enterprises applying for RMB trade financing to Fufeng is not large and the amount is not large.
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