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Cross-border trade RMB settlement welcomed: HSBC

05-30-2011 15:28 BJT

According to a report released by HSBC Bank (China) Co Ltd on Sunday, 78 percent of the interviewed companies which have not started RMB settlement business yet are willing to use RMB settlement in the future.

The survey asked approximately 1,300 companies, covering 18 cities where HSBC branches are set and can conduct cross-border trade RMB settlement business.

The survey shows that 45 percent of the companies clearly showed their willingness to start the business, 33 percent said it will depend on the services and the prices offered by the bank and 22 percent said they have no interests.

The report also said although RMB is being gradually accepted both inside and outside China, from the global perspective, the percentage of RMB used in the trade is still small compared to US dollars and euros. The problems are overseas traders do not have RMB for payment or are lacking of related support and information about RMB settlement, the report said.

Editor:Yang Jie |Source: China Daily

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