Quanzhou Footwear And Clothing Enterprises Enjoy RMB Settlement And Stride Forward Handling

Quanzhou enterprises exporting abroad can use RMB to settle accounts. Yesterday, the first batch of cross-border RMB settlement business in Fujian Province was successfully handled, and two enterprises in Fujian Province "tried new things", achieving zero breakthrough in cross-border trade RMB settlement business in Fujian Province. Cross border RMB settlement is no longer restricted to overseas regions, which is a major benefit to Quanzhou foreign trade enterprises. As for the problem of "export tax rebate" worried by export-oriented enterprises, the insiders explained that the business did not need to go through verification procedures, and "export tax rebate" was still applicable.  

Reduce exchange costs

Manager Huang is the head of a garment enterprise in our city. Most of the garments produced by this enterprise are exported to Europe, America and Southeast Asian countries.

He said that at present, the profits of import and export processing trade enterprises are very low. In addition to the impact of macro-economy, the profits of enterprises have been reduced again and again. "Most enterprises import raw materials and export products in dollars and euros, while the manufacturing enterprises are in China, so they need RMB to settle workers' wages, factory rents, etc." After exchange, the net profit of enterprises will decrease by 1 percentage point. At the same time, for the processing enterprises in our city, the settlement is in dollars when they accept orders, and the other party will not pay until the goods are exported a few months later. If the dollar continues to depreciate within a few months, the enterprise will suffer more losses. Manager Huang said happily that by adopting cross-border RMB settlement, import and export trade enterprises can avoid the risk of exchange charges and foreign currency depreciation.

Zhu Liangzhi, Deputy Director of the International Settlement Department of Bank of China Quanzhou Branch, said in an interview that the most direct benefit of using RMB as the international settlement currency is firstly to avoid exchange rate risk and prevent foreign exchange depreciation losses; The second is to lock the financial cost and estimate the expected income of the enterprise. In addition, RMB settlement can reduce transaction costs, improve settlement efficiency, and provide convenience for enterprises to hold RMB assets overseas.

   　　  Banks with international business can handle

Cross border RMB settlement refers to the settlement of import and export trade, non trade and service items priced, declared and settled in RMB. Last July, the cross-border trade RMB settlement business was first officially piloted in Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan. Last week, Fujian and 17 other provinces (autonomous regions, municipalities directly under the Central Government) were listed as additional pilot areas.

In the first batch of cross-border trade RMB settlement business in Fujian yesterday, Bank of China Fujian Branch cooperated with Hong Kong Jiyou Bank to open an import letter of credit of 600000 yuan for Jinjiang Import and Export Co., Ltd., filling the gap in RMB international letter of credit business in our province. In addition, Bank of China Fujian Branch cooperated with Hong Kong Jiyou Bank to handle the outward remittance business of goods trade RMB for Shishi Fuda Plastic Stationery Co., Ltd., with the amount of payment RMB 132000, realizing zero breakthrough in cross-border trade RMB settlement business in our province.

So, how does the enterprise handle this business? What documents must be submitted? The reporter learned from the information of various banks that as long as there are banking institutions that handle international business in Quanzhou, they can handle cross-border RMB settlement business. At present, enterprises registered in pilot areas and qualified for import and export are not restricted to handle import and service trade business settlement; For export business, it is required to be recommended by the government and confirmed by the People's Bank of China and other relevant ministries and commissions before entering the list of pilot enterprises to participate in cross-border RMB settlement.

  　　 "Export tax rebate" is still available

It is understood that enterprises who handle cross-border RMB settlement for the first time need to submit relevant information such as enterprise business license, enterprise organization code, customs code, tax registration certificate number, and the ID card of the enterprise's legal representative or person in charge. The export trade that applies RMB settlement still enjoys the tax rebate (exemption) policy for export goods in accordance with relevant regulations.