RMB has become the largest cross-border settlement currency in the Greater Bay area of Guangdong, Hong Kong and Macao
2022-03-09
According to the official website of the people's Bank of China, the people's Bank of China, together with relevant departments, jointly issued the opinions on financial support for the construction of Guangdong, Hong Kong and Macao Bay area to facilitate capital financing, serve entity needs, benefit people's livelihood and welfare, and fully support the high-quality development of Guangdong, Hong Kong and Macao Bay area. By the end of 2021, nearly 1000 high-quality enterprises had enjoyed policy dividends. In 2021, the scale of cross-border RMB settlement in Dawan District reached 3.8 trillion yuan, and RMB became the largest cross-border settlement currency in Dawan district. "Economy is the body and finance is the blood". The high-quality development of Dawan district is inseparable from the efficient financing of funds in the three places. In terms of facilitating capital financing, in order to facilitate cross-border payment and investment and financing activities of enterprises and better serve the economic and trade exchanges between the three places, the people's Bank of China has successively issued a number of trade and investment facilitation measures, simplified cross-border settlement processes, optimized cross-border investment and financing management, and took the lead in landing in Dawan District, such as the pilot of domestic and foreign currency integrated capital pool and the pilot of high-level opening of cross-border trade and investment. Simplify operation links and reduce the "sole cost" of enterprises. The people's Bank of China has guided Dawan District Bank to simplify the operation process of cross-border RMB business and launched the white list system. High quality enterprises no longer need to submit documents one by one in advance. They can directly handle cross-border capital settlement by sending payment instructions, realizing that "the more honest enterprises are, the more convenient settlement is". In terms of service entity demand, in view of the cross-border asset allocation needs of residents in Dawan District, the people's Bank of China, together with the mainland, Hong Kong and Macao financial regulators, studied and formulated the pilot scheme of "cross-border financial link" in Guangdong, Hong Kong and Macao Dawan District, and established a regulatory cooperation mechanism to provide a new channel for individual cross-border investment. In September 2021, the pilot of "cross border financial link" was officially launched. Mainland residents in Dawan district can buy bonds, funds and other investment products in Hong Kong and Macao, and Hong Kong and Macao residents can also configure mainland financial products and funds. Since the pilot was launched, the market players have responded positively. By the end of 2021, more than 20000 residents of Dawan district had participated in the pilot, and more than 60 banks had participated in the pilot. In view of the industrial upgrading and green development needs of Dawan District, the people's Bank of China, relying on Guangzhou green finance reform and innovation pilot zone, promotes the integration and docking of green finance standards. In 2021, the Shenzhen municipal government issued 3.9 billion yuan of green bonds in Hong Kong, and many enterprises in Guangzhou, Zhongshan and other places also successfully issued green bonds in Hong Kong and Macao. The benign interaction between green financial development and low-carbon economic transformation is gradually taking shape. In terms of benefiting people's livelihood and well-being, the people's Bank of China continued to promote reform and innovation in the field of people's livelihood finance. Around the convenience of account opening, we launched the pilot of agent witness account opening. Hong Kong and Macao residents can open remote accounts through BOC Hong Kong and ICBC Macao without going to the mainland in person. By the end of 2021, Hong Kong and Macao residents had opened 180000 mainland personal accounts through agency witness, with a cumulative transaction amount of 6 billion yuan. Around mobile phone payment, we will push the Hongkong and Macao version of "cloud flash payment" wallet, Alipay (Hongkong) electronic wallet, WeChat (Hongkong) electronic wallet, Bank of China Macao mobile bank and Macao Mpay wallet into the Tai Wan area, and focus on the construction of the Hong Kong Zhuhai Macao Bridge, entry visa payment and other mobile payment cross-border application characteristics projects. By the end of 2021, there were about 9.26 million transactions in five wallets, with an amount of about 1.5 billion yuan. In addition, it also launched businesses that benefit people's livelihood, such as direct payment of cross-border electronic bills of Hong Kong and Macao residents and self-service inquiry of personal credit investigation reports, which greatly improved the convenience of people's life in Dawan district. (Xinhua News Agency)
Edit：Huang huiqun Responsible editor：Su Suiyue
Source：people.cn
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