Legal Rules for RMB Overseas Settlement 10

Cross-border RMB settlement business refers to cross-border settlement business and related financial services denominated in RMB and used as a means of paymentIncluding cross-border ** RMB settlement, overseas direct investment RMB settlement, foreign direct investment RMB settlement, etc.

For enterprises, it refers to the cross-border investment in RMB by qualified enterprises on a voluntary basis; For commercial banks, it is to provide cross-border RMB-related settlement services for enterprises or individuals within the scope of the policies stipulated by the People's Bank of China.

The main types of cross-border RMB business that enterprises can handle include: import and export of goods, services, foreign direct investment, overseas direct investment, RMB overseas loans of foreign-invested enterprises, RMB loans for overseas projects, overseas loans of non-financial institutions, full-caliber cross-border financing, overseas bond issuance by enterprises, cross-border two-way RMB cash pooling, etc.

Cross-border RMB benefits

Cross-border RMB can save exchange costs; increase capital returns; Avoid exchange rate risk; optimize risk management; Reduced transaction fees; Lock in cost benefits. Compared with foreign currency, it can be said that there are many advantages and benefits.

After handling cross-border RMB business, the institutional obstacles have been reduced, and the administrative examination and approval links of settlement have been reduced.

The business procedures are simplified, and the enterprise does not need to submit a verification form for customs declaration, settlement and tax refund (exemption); The funds arrive quickly, and the export income of the enterprise does not need to be verified in the account, and can be directly entered into the account; The use of funds is free, and enterprises can deposit export earnings abroad in accordance with regulations, carry out ** and investment settlement, etc.

Cross-border RMB settlement is an international settlement method provided by commercial banks for import and export enterprises with RMB as the settlement currency within the scope of the policies stipulated by the central bank.

RMB cross-border** settlement platform.

The online** and RMB cross-border settlement platforms launched for enterprises and individuals with cross-border settlement needs can realize online transactions and complete cross-border receipts and payments in real time.

Extended information: Cross-border RMB settlement.

Business characteristics. The transaction success rate is high, ensuring convenient and smooth cross-border business processing.

Support RMB transfer to all countries and regions around the world.

Online cross-border transfer, fast arrival.

Support RMB cross-border receipt and payment to avoid the risk of exchange rate fluctuations.

Application conditions. 1.Approved and registered in accordance with the law, with a legal person business license or other valid certification documents sufficient to prove the legality and scope of its business;

2.Have the right to import and export;

3.Import and export enterprises approved by the People's Bank of China to carry out relevant business in the Administrative Measures for Cross-border ** RMB Settlement and its detailed rules and relevant administrative regulations.

Dispose. When handling cross-border transfer business, you need to go through the real-name registration system verification, and the process is as follows:

1. Opening electronic accounts and cross-border settlement business.

Second, fill in the payment elements and proceed with the transfer process.

Three. The recipient receives the payment.

Qualified Businesses. Businesses with a cross-border foreign exchange payment license.

In March, the State Administration of Foreign Exchange (SAFE) issued the Guiding Opinions on the Pilot Foreign Exchange Payment Business of Cross-border E-commerce Payment Institutions, and decided to launch pilot projects in Shanghai, Beijing, Chongqing, Zhejiang, Shenzhen and other places. Payment institutions participating in the pilot are allowed to handle cross-border foreign exchange receipts and payments, as well as foreign exchange settlement and sales for e-commerce customers.

Shanghai. Eight payment companies, including IPS Pay, UnionPay Electronic Payment, Dongfang Electronic Payment, Tonglian, Fast Money, Shengpay, Huifu Payment and Fuyou Pay, have been approved to carry out cross-border e-commerce foreign exchange payment business pilots. Dongfang Electronics' payment business is limited to goods**, and the other 7 companies are limited to goods**, study abroad education, air tickets, and hotel accommodation.

Chongqing-based Epay Gongyin Huai Division has been approved for a pilot program, and its business type is limited to goods**.

Beijing. Rongtong, Ainong Postal Technical Services, and Yinyingtong were approved for pilots. The business scope of the first two companies is limited to cargo**, study abroad and education, air tickets and hotel accommodation, while the business scope is limited to cargo**, and the business scope of Yinyingtong is limited to cargo**, air tickets and hotel accommodation.

Shenzhen area. Tenpay and Qianbao Technology were approved to carry out the pilot project. The scope of business of the former is limited to cargo**, airline tickets and hotel accommodation, while the latter is limited to cargo**.

Hangzhou area. Alipay and Beifu Technology were approved for pilots. The business scope of the former is limited to goods**, study abroad education, air tickets, and hotel accommodation, while the latter is limited to goods**, study abroad education.

The so-called cross-border RMB settlement refers to the cross-border settlement in RMB on a voluntary basis by enterprises designated by the state and with conditions, and commercial banks can directly provide cross-border RMB related settlement services for enterprises within the scope of the policies stipulated by the People's Bank of China.

Cross-border RMB settlement means that import and export enterprises will not have an obvious feeling except for the switch from the use of US dollar letters of credit to the use of RMB letters of credit, and the real change lies in the back-office settlement part between domestic and foreign banks. For example, in the process of negotiation with overseas buyers, a Chinese export enterprise can request RMB settlement, and the overseas buyer will issue a RMB letter of credit at the paying bank, and then the negotiating bank will notify the seller, and then the delivery, receipt, receipt and payment will be carried out.

Extended Information]:

1. Benefits. 1) Reduce the exchange cost of enterprises and avoid exchange rate risks. The use of RMB for international settlement, especially between affiliated enterprises, can save the cost of foreign exchange purchase and settlement, reduce the risk of capital mismatch, realize the hedging of income and expenditure items, and directly avoid exchange rate risks.

2) Simplify the settlement procedures of enterprises, speed up the settlement speed, and improve the efficiency of capital use. Cross-border RMB settlement is not included in the foreign exchange segment and pure write-off management, no foreign exchange verification form is required, cross-border settlement funds do not need to be entered into the account to be verified, ** credit projects are only registered for foreign debts and are not included in foreign debt management.

2. In the case of settlement before import and export, the process of handling business of the enterprise is as follows:

1) The enterprise signs a first-class contract with the foreign party for RMB denominated settlement, and carries out production and delivery according to the contract.

2) The enterprise provides the bank with contracts, invoices, and instructions for the receipt (payment) of import (export), and handles the receipt or payment (import prepayment or export prepayment) in the bank. The bank shall report the relevant information to the slag rcpmis in accordance with the regulations.

3) According to the provisions of the contract and the situation that the goods are loaded to (shipped), the enterprise shall declare to the customs in RMB.

Third, the specific process.

For the case of advanced post-export settlement, the process of handling business of the enterprise is as follows:

1) The enterprise signs a first-class contract with the foreign party for RMB denominated settlement, and carries out production and delivery according to the contract.

2) According to the provisions of the contract and the situation that the goods are loaded to (shipped) on the ship, the customs shall be declared in RMB.

3) The enterprise shall apply to the local tax authorities for export exemption and tax refund with the invoice, VAT invoice and export declaration form tax refund. Grip.

The documents supporting the opening of the account, such as the legal representative or the person in charge of the unit or the valid identity certificate of the authorized signatory of the account (hereinafter referred to as the person in charge), shall be the original documents issued by the overseas suspect institution when opening a RMB bank settlement account. If the account opening certificate is not in Chinese, it shall be translated into the corresponding Chinese, and the official seal of the unit or the special financial seal or the signature of the authorized signatory of the account shall be affixed to the translation of the judgment. The bank shall check that the translation is consistent with the original.

If an overseas institution cannot provide a valid identity document of the legal representative or the person in charge of the unit when opening a RMB bank settlement account, it can provide the valid identity certificate of the authorized signatory of the account as specified in the articles of association, and at the same time issue the articles of association of Liquid Bridge.

The name of the depositor, the account name and the name of the person in charge of the RMB bank settlement account of the overseas institution may be in Chinese or English. Where the name of an overseas institution is recorded in Chinese on the certificate of lawful registration and establishment abroad or the valid identity certificate of the responsible person, it shall be in Chinese; Where names other than Chinese or English are recorded, the translated Chinese shall be used. Where Chinese is used, it shall be the full name in Chinese Simplified; If English is used, it shall be the full name in English capital letters.