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Central Bank's foreign trade growth 11 opinions: support for cross-border settlement of RMB

Summary of the People's Bank of China's guidance on the implementation of the "Several Opinions of the General Office of the State Council on Supporting Stable Growth of Foreign Trade", National Development Bank, Policy Banks, State-Owned Commercial Banks, Joint-Stock Commercial Banks, China Postal Savings Bank; People's Bank of China [å¾®...
Guiding Opinions of the People's Bank of China on Implementing the "Several Opinions of the General Office of the State Council on Supporting Stable Growth of Foreign Trade"

National Development Bank, policy banks, state-owned commercial banks, joint-stock commercial banks, China Postal Savings Bank; People's Bank of China [microblogging] Shanghai headquarters, branches, business management departments, provincial capitals (capital) city center sub-branch, deputy province City Center Sub-branch, Foreign Exchange Trading Center (Inter-bank Lending Center), Traders Association:

In order to implement the "Several Opinions of the General Office of the State Council on Supporting Stable Growth of Foreign Trade" (Guo Dang Fa [2014] No. 19) and support the steady growth of foreign trade, the following guidance is proposed:

First, further expand the financing channels of enterprises. Encourage banking financial institutions to actively innovate financial products and services, further expand export credit insurance policy financing, and flexibly use liquidity loans, import and export credit loans, factoring loans, discounted bills, mortgage loans, and external guarantees to strengthen Credit support for orders, efficient import and export enterprises and foreign trade integrated service enterprises to promote the export of small and micro enterprises. Support qualified enterprises to issue non-financial corporate debt financing instruments, promote various innovations such as small and medium-sized enterprises to collect bills, SME regional collective bills, and credit enhancement, and broaden the financing channels for import and export enterprises including small and medium-sized enterprises.

Second, give full play to the role of policy finance in supporting foreign trade. Encourage the Export-Import Bank of China to increase the preferential export buyer's credit and preferential loans, simplify the process of high-purchase, excellent loan projects and fund approval, and increase support for enterprises to “go global”, especially for SMEs. Encourage policy-based financial institutions to increase support for service trade and support the construction of key projects in service trade.

Third, actively develop financial leasing. Actively develop financial leasing business with tangible movable property as the target, and support the import and export of large equipment. Actively support non-bank financial institutions such as qualified financial leasing companies to expand financing channels through the issuance of financial bonds and participation in credit asset securitization pilots.

Fourth, simplify cross-border trade and investment in RMB settlement business processes. Banking financial institutions can directly handle the RMB cross-border under the current account and direct investment on the basis of the three principles of “know your customer”, “know your business” and “due diligence review”. Settlement business.

V. Conducting centralized operation of cross-border RMB funds. Multinational enterprise groups can carry out cross-border RMB fund centralized operations in accordance with the relevant regulations of the People's Bank of China [microblogging], including cross-border two-way RMB fund pool business and cross-border RMB centralized collection and payment business under the current account. The headquarters of a multinational enterprise group may designate member companies (including financial companies) that are legally registered and invested in the territory of the People's Republic of China and have independent legal personality, as a national or regional host enterprise for conducting cross-border RMB fund centralized operation. . When the organizer handles the cross-border RMB centralized collection and payment business under the current account, it can use the net difference settlement method to settle the difference between the total amount of the enterprise group under the current account and the amount of the member company. The cross-border RMB fund centralized operation business shall fulfill the international revenue and expenditure reporting obligations in accordance with the relevant provisions of the international balance of payments declaration.

6. To carry out personal cross-border trade RMB settlement business. Banking financial institutions can provide settlement services for cross-border RMB business of goods trade and service trade conducted by individuals. On the basis of the three principles of “know your customer”, “know your business” and “due diligence review”, the banking financial institution can directly handle cross-border trade RMB settlement business for customers with personal valid identity documents or business licenses. Customers may be required to submit relevant business credentials if necessary.

7. Support banking financial institutions and payment institutions to cooperate in cross-border RMB settlement business. Banking financial institutions may cooperate with payment institutions that have obtained “Internet payment” business licenses to provide RMB settlement services for cross-border goods trade and service trade between enterprises and individuals. The banking financial institution shall sign a cross-border e-commerce RMB settlement business agreement with the payment institution and report it to the local branch of the People's Bank of China for the record.

8. Promote the construction of a foreign trade enterprise credit information system. Implementing the Outline of the Social Credit System Construction Plan (2014-2020), promoting all departments and industries to establish and improve the credit records of social members in the administrative and law enforcement departments, effectively strengthen the disclosure of government affairs information, and promote inter-departmental Credit information sharing, and the use of credit service products in administrative law enforcement, and vigorously promote the construction of social credit system including foreign trade enterprises. Promote the collection and application of credit information of foreign trade enterprises, including foreign trade enterprises, cooperate with the promotion of the construction of credit record database for foreign trade enterprises, and provide financial services basic support for foreign trade enterprises.

9. Further improve the mechanism for the formation of the RMB exchange rate. Continue to improve the formation mechanism of the RMB exchange rate marketization, increase the market to determine the exchange rate, and promote the balance of international payments. According to the development of the foreign exchange market and the economic and financial situation, the two-way floating flexibility of the RMB exchange rate will be enhanced to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. Further play the role of the market to determine the exchange rate, and improve the managed floating exchange rate system based on market supply and demand. Continue to promote the development of the RMB direct trading market for other currencies.

Ten, rich exchange rate hedging tools. Intensify the innovation of foreign exchange products, increase the trading varieties of the foreign exchange market, study the innovation of foreign exchange option products and futures business, and form a product system combining the combination of various products such as spot, forward, futures and options, and exchange rate products and interest rate products. Enrich the participants in the foreign exchange market, reduce the entry barriers for foreign exchange derivatives of commercial banks, and appropriately relax the qualifications for small and medium-sized banks to start long-term foreign exchange settlement and sales. Improve the infrastructure construction of transactions, liquidation, information, etc., to better meet the exchange rate hedging needs of enterprises and residents based on the principle of real demand.

11. Provide a full range of financial services for enterprises to “go global”. Support domestic financial institutions to accelerate overseas distribution through cross-border mergers and acquisitions, cross-border RMB business, etc., develop a global customer-centric global credit, marketing, management and service system, and provide indirect financing of domestic and foreign M&A loans and syndicated loans. Direct financing, support large-scale enterprises with mergers and acquisitions capabilities and leading industries to extend the industrial chain through strategic mergers and acquisitions, steadily extend supply chain financing to overseas, and drive Chinese equipment, materials, products, standards, technologies and services to “go global”. Cultivate multinational conglomerates with core competitiveness. Encourage “going out” enterprises to issue RMB bonds overseas and fully support overseas projects. Encourage the development of various forms of RMB overseas investment funds and M&A funds, support enterprises to “go global” to promote industrial upgrading and promote the sustainable development of foreign trade.

All branches of the People's Bank of China are requested to forward this guidance to the banking financial institutions and payment institutions within their respective jurisdictions.

People's Bank of China

June 11, 2014

Office Lighting

Office illumination is a lighting scheme designed for the office environment. Good office lighting plays an important role in providing a comfortable and productive work environment.

Office lighting is generally divided into three types: task lighting, ambient lighting, and decorative lighting. Task lighting is the provision of direct light to meet the needs of the job, such as a table lamp or recessed fixture used to provide clear and bright light to reduce eye fatigue. Ambient lighting illuminates the entire office with evenly distributed soft light, providing indoor comfort and visual balance. In addition, decorative lighting can be used to enhance the atmosphere and beauty of the office to enhance the mood and creativity of employees.

In addition to considering lighting types, office lighting should also focus on energy efficiency and sustainability. The use of LED lighting technology can significantly reduce energy consumption and provide long life and better light quality. The dimming system and automated control system can be intelligently adjusted according to natural light and usage requirements, further improving energy efficiency.

A well-planned workplace lighting scheme can enhance employee comfort and productivity. By taking full advantage of different types of lighting, office lights can create a pleasant, healthy, and professional working environment, taking into account functionality, ambient atmosphere, and energy-saving needs.

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