Rmb issue problem

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Rmb issue problem

RMB's role swells in overseas commerce 1 Special: China's First Import Expo The ongoing internationalization of China's renminbi has become an important currency for cross-border trade and investment, according to company representatives and other experts during a forum held at the China International Import Expo on Tuesday.

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Pan Gongsheng, deputy governor of the People's Bank of China, said the internationalization of the renminbi, which started inhas provided more financing possibilities for import and export companies.

Investment channels have been increased and the business environment has improved, Pan said. Li Chenggang, assistant minister of commerce, said the internationalization of the renminbi has helped to lower costs and prevent foreign exchange risks.

Meanwhile, investment and free trade have been greatly facilitated, he said. He Yajun, chief finance officer of IKEA Supply China, said the internationalization of the renminbi has led to more convenient transaction procedures and helped companies to avoid certain risks, enabling IKEA China to integrate into the corporation's global settlement strategy.

At the same time, IKEA Supply China has promoted renminbi settlement to its domestic suppliers, the majority of which are small and medium-sized enterprises, He said.

Obtaining Yuan in China from Foreign Currency

Although these SMEs held a wait-and-see attitude at the beginning, the relatively stable renminbi rate has convinced them to go for the change, she said. Dutch technology giant Philips started cash pool management in renminbi in China earlier this year. But with the internationalization of the renminbi and transactions settled in renminbi, the problems can be solved and we can focus more on the business itself," said Liu.

Qu Hongbin, chief China economist at HSBC, said the renminbi will rise as the world's third-largest reserve currency in the next five years.

The Reunification Line...

The internationalization of the renminbi is the key to the further opening-up of the financial sector and thus should be placed at an international level, he said.Jan 01,  · The rMB is definitely prone to the same keyboard issues of the MBP.

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Rmb issue problem

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Renminbi currency value is a debate affecting the Chinese currency unit, The undervalued renminbi exacerbates Chinese banks’ long existing capital misallocation problems and hence hampers the banking system reform, which has been one of the goals of the Chinese government.

JISCO to issue RMB billion in short-term bonds Gansu-based Chinese steelmaker JISCO will issue short-term bonds on July 31, worth a total value of RMB billion ($ billion). This content is only available to subscribers. Try for free by filling in the form.

Rotel RMB Owners Thread | AVForums