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36 Krypton learned that recently, the Ministry of Commerce and the People’s Bank of China jointly issued the “Notice on Further Supporting Foreign Economic and Trade Enterprises to Expand the Cross-border Use of Renminbi to Promote Trade and Investment Facilitation”. The notice requires that various cross-border trade and investment be settled in RMB to facilitate settlement, and promote banks to provide more convenient and efficient settlement services; encourage banks to carry out overseas RMB loans, actively innovate products and services, and better meet the needs of enterprises for cross-border RMB investment and financing; Enterprises implement policies to enhance the sense of acquisition of high-quality enterprises, first-time households, small, medium and micro enterprises, and support core enterprises in the supply chain to play a leading role; relying on various open platforms such as the Free Trade Pilot Zone, Hainan Free Trade Port, and Overseas Economic and Trade Cooperation Zones, Promote the cross-border use of RMB.
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Event Tracking
- 2023-01-11 Ministry of Commerce, Central Bank: Facilitate the use of RMB pricing and settlement for various cross-border trade and investment
- 2022-11-17 Ministry of Commerce: Foreign trade operation in the fourth quarter will continue to be maintained within a reasonable range
- 2022-09-27 Ministry of Commerce: Further play the role of cross-border e-commerce in stabilizing foreign trade
- 2022-06-08 Ministry of Commerce: Introduce policies and measures to facilitate cross-border e-commerce export returns and exchanges as soon as possible
- 2020-04-13 Ministry of Commerce: Cross-border e-commerce export and B2B mode account for 70% of transaction volume
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