The Research On RMB Cross-Border Settlememt Of Foreign Trade Enterprises In Guangxi

Due to the beginning of RMB cross-border trade settlement in 2010, the portion of RMB has achieved increasingly development for international trade in Guangxi Province. As the development of RMB cross-border trade settlement, it is beneficial to Guangxi enterprises for exchange rate risks aversion, trade condition improvement and cost reduction in settlement. However, it is still revealed various issues in the process of development on RMB cross-border trade settlement. With the concern of promotion for RMB cross-border trade settlement as national policy, this paper, attaches much importance to RMB settlement benefits for Guangxi trade enterprises, and how to integrate their own characteristic for launching method in RMB settlement.Based on the theory of domestic currency cross-border settlement, this paper analyzes the RMB cross-border settlement’s impact on Guangxi foreign trade enterprises with the combination of their current situation and characteristics. According to the analysis, it still indicates that the problem existed in using the RMB cross-border settlement for Guangxi foreign trade enterprises as follow:above all the distribution of RMB settlement is unbalanced, which is used mostly on border trade with Vietnam. Secondly foreign trade enterprises is lack of currency discretion in international trade. Thirdly the enterprises are not attempt to mater the policy comprehensively. And last, it is very difficult for the enterprises to make discretion on RMB settlement. The major causes of these problems are the unbalanced distribution of trading partners, the lack of discretion in foreign trade, the deficiency of relative facilities and specialist and the fluctuation of RMB exchange rate. The paper provides four approaches for Guangxi foreign trade enterprises to improve the current state. First is the import and export commodities structure adjustment to improve enterprises’trade status. Second the enterprises seek to cultivate professionals and have overall appreciation for policy. Third, the enterprises also attempt to strengthen the expectation of exchange rate and the currency adjustment in RMB settlement. With the benefit of Guangxi border area’s policy, Guangxi foreign trade enterprises can seize the development opportunity.