The Central Bank Intends To Extend Cross-Border Trade Settlement To The Whole Country Within The Year.

People's Bank of China

It is understood that there are 20 provinces and municipalities across the country to carry out cross-border trade RMB settlement pilot, there are 11 provinces and municipalities do not carry out this business.

Li Bo said that in the past two months, the last two provinces that did not enter the pilot provinces will push ahead with the pilot expansion after submitting their applications.

Li Bo revealed cross-border

In addition, the central bank is also studying the relevant methods of RMB settlement (i.e. RMB FDI) for foreign direct investment.

In January this year, the central bank and the foreign exchange bureau, together with the Ministry of Commerce and other departments, issued a pilot scheme for RMB settlement of foreign direct investment, that is, RMB ODI, so far the pilot volume is about 19 billion yuan.

Li Bo also revealed that at present, the central bank also promotes the establishment of the RMB foreign debt management system with foreign exchange bureaus and other relevant departments to facilitate investment facilitation.

Wang Xiaoya, deputy director of the central bank's Research Bureau, said at the forum last night that the central bank has also made arrangements for the management of hot money.

Wang Xiaoya pointed out that the central bank has made many arrangements to control hot money and illegitimate capital.

Including the policies introduced in January 1st this year, the income of enterprises can be stored outside the country, and there is an arrangement for storage and structure.

At present, PICC, Xinhua Life Insurance and Taikang Life are actively preparing for the listing of A shares. Zhang Yanyun, deputy director of the Ministry of development and reform of the China Insurance Regulatory Commission, revealed yesterday that the CIRC has not yet received any insurance company's application for landing on the A share market.

Zhang Yanyun said the CIRC has received applications for the preparation of more than 100 insurance companies, and most of them are local corporate insurance companies launched by local enterprises.

The CIRC will strictly examine the qualification and senior executives of the companies to be raised, and will make approval according to regional development and so on.

For the attention of the banking department insurance company, Zhang Yanyun disclosed that at present, the requirement for banks to pilot shares insurance companies is: the proportion of equity held by banks in insurance companies should not exceed 51%.

In view of the requirements of corporate governance, the Insurance Regulatory Commission adhered to the decentralization of equity of insurance companies in principle.