| Due to the fact that global financial crisis spread and the world economicrecession, leading to major international settlement currency such as the euro,dollar exchange rate changing, enterprises in many countries including Chinaface huge risk in international trade settlement with third currency. Decided bythe State Council in2009in Guangdong Province, Guangzhou City, ShenzhenCity, Dongguan City, Zhuhai city and Shanghai city started RMB cross-bordertrade settlement. In June2010, the pilot work extended to Heilongjiang provinceand other20provinces (city).Although the start of pilot RMB settlement in cross-border trade activelypromote the development of derivative products, but just bank of China has theadvantage of overseas institutions, other banks started at the same time and haveno obvious advantages.This article expounds the cross-border RMB settlement, makingcomparative analysis of the settlement of cross-border transactions in RMB andforeign currency settlement, summarizding the cross-border RMB settlementcharacteristics and the development course of RMB cross-border settlement. Thisarticle also analyzes the meaning of the CCB Heilongjiang branch start RMBsettlement in cross-border trade, summed the present situation of thecross-border trade and the foreign exchange account forms, types of RMBsettlement in cross-border trade development for CCB Heilongjiang branch.Discussed four dilemmas in macroscopic aspects including the slow developmentof RMB settlement, output and return mechanism is not sound, the liquidationsystem to be perfected urgently, the administration of foreign exchange andfinancial supervision system, as well as in microcosmic aspects includingmonetary policy restrict, competition intense, the cross-border RMB liquidityrisk, operational cumbersome four dilemmas, and providing rationalizationproposal for Business Center of CCB Heilongjiang branch for RMB settlement incross-border trade. |
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