RMB pilot cross-border trade RMB in China starts pilot cross-border trade (Note: Point &quot;Refresh&quot; button or F5 to view the latest comments. You have discovered!) Bank of China General Administration of Customs Ministry of Finance, the Ministry of Commerce Bank of China State Administration of Taxation (4.66,0.03,0.65%) Industry Regulatory Commission 〔2009〕 No. 10 Bank of China, Ministry of Finance, Ministry of Commerce, General Administration of Customs, State Administration of Taxation, China Banking Regulatory Commission jointly formulated the &quot;cross-border trade, the RMB settlement of the Administration of Pilot&quot;, is hereby promulgated. Bank of China General Administration of Customs Ministry of Commerce Ministry of Finance State Administration of Taxation Banking Regulatory Commission July 1, 2009 Cross-border trade, the RMB settlement of the Administration of Pilot The first is to promote trade facilitation, protection of cross-border trade, RMB experimental work smoothly, standardized pilot enterprises and commercial banks, prevent risks related businesses, according to &quot;The People&#39;s Republic of China People&#39;s Bank Law&quot; and other laws and administrative regulations, formulated. The second state to allow the designated, qualified enterprises on a voluntary basis to the RMB settlement of cross-border trade, to support commercial banks to provide enterprises with cross-border trade in RMB clearing services. The State Council approved the third pilot area cross-border trade in RMB and the application of this approach. Article pilot areas of the provincial people&#39;s government responsible for coordinating the local authorities recommended a pilot cross-border trade settlement in RMB business, by the People&#39;s Bank of the Ministry of Finance, Ministry of Commerce, General Administration of Customs, State Administration of Taxation, China Banking Regulatory Commission and other relevant departments to conduct audits finalize the list of pilot enterprises. In recommending the pilot enterprises, to verify the pilot enterprises and their legal representative of the true identity of the pilot enterprises to ensure the real-name registration system and to comply with cross-border trade with the provisions of RMB. The pilot enterprises in violation of state regulations, punishable by law, to cancel the pilot qualifications. Article macro People can prevent the need for systemic risk, cross-border trade to total RMB pilot control. Article VI of the pilot enterprises and foreign enterprises to import and export trade, RMB, can be through Hong Kong, Macao regions rows yuan RMB business clearing cross-border clearing and settlement Zi Jin, Ye can be a commercial bank through domestic commercial banks outside the cross-RMB border clearing and settlement. Article VII of the Bank of China and the Hong Kong Monetary Authority, Monetary Authority of Macao recognition, has joined the Bank of China to conduct large-value payment system and the RMB clearing business in Hong Kong and Macao commercial banks, as Hong Kong and Macau RMB clearing bank to provide cross-border trade, RMB and clearing services. Article VIII of the pilot areas have the operational capacity of the international settlement of commercial banks (hereinafter referred to as the territory of the BIS), to comply with cross-border trade, the RMB settlement of the relevant provisions of the pilot enterprises for cross-border trade in RMB clearing services. Article pilot areas have the operational capacity of the international settlement of commercial banks (hereinafter referred to as domestic agent bank), can participate in cross-border trade, RMB foreign banks (hereinafter referred to as foreign participating banks) have entered into settlement agreements RMB agency, to open RMB business with current account, the proxy foreign banks to participate in cross-border trade be paid in RMB. Domestic correspondent banking agency shall provide for the settlement agreement and the RMB yuan business current account with the local branch of the People&#39;s Bank record. Article domestic agent banks can open foreign bank accounts to participate in setting initial working capital requirements and participation for foreign banks to provide initial working capital exchange service. Article within the agent banks under the requirements of foreign banks to participate in the purchase and sale within the limit of RMB, buy sell limit determined by the PBC. Article XII of the territory of the agent bank for its opening of RMB current accounts with the offshore industry to participate in the financing banks to provide RMB account for the temporary position to meet the account requirements, financing amount and duration determined by the PBC. Article XIII of the Clearing Bank for Renminbi Hong Kong and Macao under the Central Government from the territory of the relevant provisions of the interbank foreign exchange market, interbank lending market and the interbank exchange the RMB funds, exchange the RMB and lending limits, deadlines established by the PBC. Article XIV of the territory of clearing banks to provide RMB gradually in accordance with relevant provisions of the trade finance services. Article XV of RMB cross-border payments should have real, legitimate transaction basis. Domestic clearing banks should be in accordance with the provisions of the PBC, the authenticity of the transaction documents and their consistency with the RMB appropriate the balance of payments. Article XVI domestic agent banks within the BIS and the anti-money laundering and terrorist financing should be in accordance with the relevant provisions, to take effective measures to understand customers and their trading purpose and nature of the transaction, the actual control of the customer to understand natural and the actual beneficiaries of transactions, proper preservation customer identification information and transaction records to ensure that enough to reproduce the specific circumstances of each transaction. Article XVII use RMB&#39;s export trade, in accordance with the relevant provisions of the enjoyment of Refund (exemption) policy. Specific Refund (exemption) Regulations formulated by the State Council department in charge of taxation. Article XVIII of pilot enterprises RMB settlement of cross-border trade is not included in foreign exchange verification management, customs and export cargo handling refund (exemption) is not required to provide foreign exchange verification forms. Within the territory of the agent bank clearing banks and tax authorities should be in accordance with the requirements, according to the tax authorities to provide the pilot enterprises RMB settlement of cross-border trade data, information. Article XIX of pilot enterprises should ensure that cross-border trade, the authenticity of the RMB settlement of trade, should establish cross-border trade in RMB Ledger, accurate records of import and export declaration information and the RMB funds receipt and payment information. Diershitiao RMB for cross-border trade in the international balance of payments under the related transactions, the pilot enterprises and domestic clearing banks should be in accordance with the relevant provisions of the declaration of international balance of payments statistics. Purchase and sale within the agent bank RMB business purchase and sale shall be in accordance with the provisions of RMB statistics. Under twenty-one cross-border trade, people involved in RMB liabilities to non-residents, temporarily prepay foreign debt statistical monitoring of the relevant provisions of the registration. Article 2 People&#39;s Bank to establish cross-border collection and payment of RMB information management system, case by case basis to collect and save the pilot enterprises and RMB long-term cross-border trade settlement related to all types of information, matching the total daily check, cross-border collection and payment of RMB situation of statistics, analysis, monitoring. Within the territory of the agent bank clearing banks and the PBOC should be in accordance with the relevant requirements of access to cross-border collection and payment of RMB information management systems and cross-border collection and payment information submitted to the RMB. Exports of goods after twenty-three to 210 days, the pilot enterprises have not paid back within the RMB should be within 5 working days through its territory, the RMB clearing bank to submit information management system for cross-border collection and payment of outstanding amount of goods to recover the amount paid and the corresponding export declaration number, to the BIS in its territory to provide relevant information. RMB intends to pilot enterprises export earnings kept abroad, and should be settled within the bank through its local branch to the PBC for the record, and to cross-border collection and payment of RMB information management system to submit the amount of the remittance of RMB funds, the depositary bank, account number, use and the corresponding export declaration, and other information. Pilot enterprises should choose a domestic bank as its cross-border trade settlement of RMB bank settlement of the main report. Pilot enterprises of the main report prompted the Bank of pilot enterprises to fulfill their reporting and filing obligations of the above information. Article 4 on the territory of People&#39;s Bank of clearing banks, domestic correspondent banking, the pilot enterprises to conduct cross-border trade in RMB clearing business to check and supervise. Found within the clearing bank, domestic correspondent banking, breach of the provisions of pilot enterprises, be punished according to law. Pilot enterprises RMB settlement of cross-border illegal trade of information, should be accurate, complete and timely entry based People&#39;s Bank of enterprise credit information database, and with the customs, taxation and other departments to share. Article 5 of RMB clearing bank People&#39;s Bank in consultation with the Hong Kong and Macao modify &quot;on the RMB business clearing agreement&quot; clearly Macau RMB RMB clearing bank to provide cross-border trade settlement and clearing services of the content. People with the Hong Kong Monetary Authority, Monetary Authority of Macao signed a memorandum of cooperation in their respective areas of responsibility of the Hong Kong and Macao yuan RMB clearing bank handling cross-border trade settlement and clearing services for control. Article 6 People&#39;s Bank and the Ministry of Finance, the Ministry of Commerce, General Administration of Customs, State Administration of Taxation, China Banking Regulatory Commission, Foreign Exchange and other relevant departments to establish the necessary mechanism for information sharing and management, increase after the inspection efforts to form a cross-border trade RMB effective supervision of experimental work. 27th article this way since the implementation date of publication.