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Inauguration of Trail Operation of Yunnan Cross-border RMB Settlement Center in 27th July

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Participating leader active the “Start Ball” to active the Trail Operation of Yunnan Cross-border RMB Settlement Center

 

 Sino-Foreign banks Sign the RMB settlement agreement

 Morning 27th July, Inauguration of Trail Operation of Yunnan Cross-border RMB Settlement Center and Kunming Regional Financial Service Center for Cross-border Trades was held in Knming. This is the great decision to provide the financial support of the Construction of Land Bridge Node, as the symbol of the new stage of Yunnan financial reform. The Former vice chairman of NPC Standing Committee Mr. Cheng Siwei, the secretary of the CPC Yunnan Provincial Committee and director of the Standing Committee of Yunnan Province Mr. Bai Enpei, Governor Mr. Qing Guangrong, Deputy Director of PBOC Mr. Du Jinfu, G20 Research Center Secretary General Mr. Long Yongtu have take part to active the “Start Ball” to active the Trail Operation of Yunnan Cross-border RMB Settlement Center.

Governor Qing Guangrong has a speech of “Cross-border RMB Settlement will Deepen the Communication and Cooperation between China, Southeast Asia Countries and South Asia Countries.

In the inauguration, Governor Qing Guangrong indicated that the region of China and the countries of Southeast and South Asia is one of the most development potentiality regions in the world. First, there is an extensive vision of broaden the communication and cooperation; achieve the complement of each other’s advantages and combine development. As the core of modern economic, finance is an important bridge to achieve regional communication, is an important guarantee of opening up and cooperation. With promoting the globalization of economic and the integration of regional economic, to deepen the finance structural reform, build a more convenient financial cooperate terrace is meaningful to promote the closely connection between China and Southeast and South Asia, and is meaningful to achieve mutual benefit.

Yunnan is one of the provinces which have the most neighboring countries and long boundary. Yunnan and Southeast Asia, South Asia linked with water, mountains and rivers, from the ancient time Yunnan is the most convenient channel of China to connect South East Asia and South Asia, in a long time with the neighboring countries have established close contact and cooperation. With the long boundary line, number of port and advanced location, Yunnan become the early province to start the RMB settlement, RMB settlement of border trade in the proportion of long-term in more than 90%, scale at top of Chinese provinces and cities. Moreover, in fact, Yunnan and neighboring countries in trading services, extensive use of the RMB currency as payment and settlement. The trend of cross-border investment of RMB is more rapidly growth in recent years. With this trend, to promote the Yunnan Cross-border RMB Settlement not only fit the objective fact of historical development but also fit the actual needs of promotion the communication and cooperation between Yunnan, South Asia and Southeast Asia.

    Recently, Yunnan is hard working in promoting the construction of Land Bridge Node for China to opening up to Southeast; launch the cross-border RMB settlement centre; to build Kunming as the Regional Financial Service Center for cross-border, these activities are the great decision to provide the financial support of the Construction of Land Bridge Node. We will draw the support from this terrace Dianchi Summit on Thoroughfares and Monetary Cooperation, and under the support of People’s Bank of China to absorb the wisdom and power of all around; fully play the advantage of Yunnan and intensify construction of supporting facilities, to build the classic environment for financial development. We will do the best in the works of Cross-border RMB settlement, and hard working in building the cross-border regional financial service center for China to opening up to Southeast region, and contribute to the friendly cooperation between China and neighboring countries.

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