Since this year, China Eximbank has taken multiple measures to optimize financial products and facilitate service innovation, promoting the rapid development of cross-border RMB businesses. The total amount of cross-border RMB payments and receipts in the first three quarters exceeded RMB80 billion, a record high in recent years; Cross-border RMB settlement under the item of trade increased by 104% year-on-year, up by 50 percentage points compared with the same period of last year.

Promoting the facilitation of payments and receipts in trade and serving the needs of the real economy

China Eximbank actively promotes RMB settlement in cross-border trade, continuously optimizes its audit method, simplifies its business process, and made good use of the cross-border RMB facilitation policy. Committed to a customer first philosophy and focusing on the needs of large foreign trade enterprises, contracted engineering enterprises and other sectors of the real economy, the Bank improved its RMB cross-border settlement services in key areas such as bulk commodities and foreign contracted engineering, to help build a business environment which is more integrity, compliance and convenience. So far, nearly 20 branches of the Bank have implemented facilitation measures for cross-border payments and receipts to reduce costs and improve convenience and efficiency for their corporate clients.

Supporting the new form of offshore trade and enabling the development of new forms of foreign trade

China Eximbank has been actively studying offshore trade models and customers' needs. It adjusts business modes to suit different business scenarios such as bulk commodity trading, offshore contracting projects, offshore entrusted processing and offshore fishing, and simplifies the process of review on fund collection and payment. In 2022, the Bank has handled a total of more than RMB4 billion in receipts and payments from merchanting, completed the implementation of RMB cross-border settlement services for offshore procurement of contracted projects and global procurement, and effectively supported the development of other new forms of foreign trade including the new form of offshore international trade.

Innovating businesses to link domestic and overseas markets

This year, the Guangdong-Hong Kong-Macao Greater Bay Area launched a pilot cross-border bi-directional transfer of RMB trade finance assets and issued the Self-Regulatory Guidelines on the Conduct of RMB Settlement Business for Cross-border Bi-directional Transfer of Trade Finance Assets in the Guangdong-Hong Kong-Macao Greater Bay Area. China Eximbank actively followed the new policy, seized this opportunity to quickly launch new product and service, and successfully handled RMB settlement of cross-border trade finance asset transfers. Through innovation in cross-border financial services, the Bank promoted the cross-border use of RMB, facilitate the connectivity of domestic and overseas markets and the sharing of financial resources. This will serve as an innovative breakthrough for financial institutions in Guangdong, Hong Kong and Macau to carry out in-depth cooperation and utilize resources from both domestic and overseas markets to serve the real economy through multiple channels.