Offshore RMB digital currency
Publish: 2021-05-14 07:43:28
1. On August 30, 2018, Asian digital currency was officially established with the special approval of the Hong Kong Special Administrative Region government to carry out the business related to the blockchain. At the same time, it invested HK $1 billion in the layout of the upstream, middle and downstream instrial chain of the blockchain. At present, Asian digital currency is carrying out four aspects of business in the field of blockchain: 1. Asian Currency Unit: the full English name of Asian currency unit. The total number of Asian Currency Units issued is 1 trillion, and the specific circulation is automatically adjusted according to the amount of reserves. Asian dollar ACU can settle accounts in real time and greatly rece transaction costs. With the participation of audit institutions, Asian dollar ACU implements the linked exchange rate system with reference to the Hong Kong dollar issuance system. It chooses the exchange rate of offshore RMB as its exchange rate and cashes in accordance with the 1:1 ratio of offshore RMB. 2. Yayuan ACU Wallet: Yayuan ACU wallet is the carrier carrying the core functions of Yayuan. It will open up the application of wallet in the field of digital currency and the real financial world. It is a platform for the issuance, circulation, exchange and settlement of Yayuan ACU with Yayuan ACU as the carrier. Asia dollar ACU wallet cooperates with the world digital currency bank strategically, connects with the world digital currency bank's global settlement system, and opens up gateway clearing channels with hundreds of banks around the world. On the one hand, Asia dollar ACU wallet links with mainstream digital currencies such as BTC, Eth and usdt, and on the other hand, it opens up sovereign legal currencies such as US dollar, RMB, Japanese yen, euro and British pound, Let digital currency and legal tender be freely convertible, and truly create the demand for free storage and exchange of currency. Expanding economic cooperation with non members to provide services.
2.
The full name of CHN is (Chinese yuan in Hong Kong), abbreviated as CNH
offshore RMB refers to the deposit business of RMB outside China. The business in which both parties are non residents is called offshore financial business. Offshore market provides offshore financial business: the business in which both parties are non residents is called offshore financial business
3. Offshore RMB refers to the deposit of RMB operating outside China. Offshore market provides offshore financial business, and the business that both parties are non residents is called offshore financial business
the current RMB settlement of cross-border trade is carried out under the capital account and the RMB is not fully convertible, so the RMB flowing abroad through trade can not enter the domestic capital market. In this case, to develop RMB trade settlement, we need to solve the circulation and transaction problems of RMB flowing out of China, so that enterprises with RMB can finance RMB, enterprises with RMB can integrate into RMB, and enterprises with RMB can obtain corresponding income, which requires the development of offshore RMB market, So that the RMB flowing abroad can be traded in the offshore RMB market; So that foreign enterprises holding RMB can finance, trade and obtain income in this market.
the current RMB settlement of cross-border trade is carried out under the capital account and the RMB is not fully convertible, so the RMB flowing abroad through trade can not enter the domestic capital market. In this case, to develop RMB trade settlement, we need to solve the circulation and transaction problems of RMB flowing out of China, so that enterprises with RMB can finance RMB, enterprises with RMB can integrate into RMB, and enterprises with RMB can obtain corresponding income, which requires the development of offshore RMB market, So that the RMB flowing abroad can be traded in the offshore RMB market; So that foreign enterprises holding RMB can finance, trade and obtain income in this market.
4.
offshore RMB: the offshore RMB market is mainly in Hong Kong, the most important offshore RMB market, which is a spontaneous market generated by the long-term trade between China and Hong Kong
when enterprises conct import and export trade activities with and through Hong Kong as an intermediary, they will naturally proce currency transactions, which can be settled in foreign currencies such as US dollars, or in RMB. After trade settlement, RMB will stay in Hong Kong and graally develop into the largest offshore RMB market
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5. Offshore RMB refers to the deposit business of RMB outside China. The business in which both parties are non residents is called offshore financial business. Offshore market provides offshore financial services. The people's Bank of China supports the establishment of an offshore RMB market in Hong Kong.
6. Offshore RMB refers to the deposit business of RMB outside China. The business in which both parties are non residents is called offshore financial business[ 1] Offshore market provides offshore financial business: the business in which both parties are non residents is called offshore financial business. The people's Bank of China supports the establishment of an offshore RMB market in Hong Kong. The people's Bank of China is also studying whether it can establish an offshore RMB market in Shanghai. Before the RMB is not fully convertible, there will be a trading market for the RMB flowing out of the country, so as to promote and ensure the development of RMB trade settlement. After Singapore's Senior Minister Goh Chok Tong's visit to China in April 2011, Singapore officially joined the competition in the RMB offshore market. On May 23, 2018, as of 15:40 Beijing time, the onshore RMB fell by more than 200 points against the US dollar, approaching 6.39; Offshore RMB fell 250 points against the US dollar in the day
Introction
the current RMB settlement of cross-border trade is carried out under the capital account and the RMB is not fully convertible. The RMB flowing to overseas through trade can not enter the domestic capital market. In this case, to develop RMB trade settlement, we need to solve the circulation and transaction problems of RMB flowing out of China, so that enterprises with RMB can finance RMB, enterprises with RMB can integrate into RMB, and enterprises with RMB can obtain corresponding income, which requires the development of offshore RMB market, So that the RMB flowing abroad can be traded in the offshore RMB market; So that foreign enterprises holding RMB can finance, trade and obtain income in this market< In February 2004, [3] banks in Hong Kong began to pilot indivial RMB business, including deposit, remittance, exchange and credit card business. No more than RMB 20000 per person per day. By the end of July 2010, the stock of RMB in Hong Kong had reached 103.7 billion yuan
in July 2010, the settlement agreement signed under the leadership of the people's Bank of China and the Hong Kong Monetary Authority is a major breakthrough in the RMB market outside Hong Kong“ First of all, "water" has lived abroad, and is able to accept bigger and more "fish". At the same time, policy makers also fully realize that the nutrients in the pool of overseas RMB market can only come from the domestic market at the present stage, so they quickly started the RMB return mechanism, so that the overseas water can connect with the domestic income, and then the overseas development of larger scale and more procts can be realized. Allowing foreign financial institutions to invest their RMB stock in the domestic inter-bank bond market and the long-awaited small QFII will quickly promote the development of insurance procts and fund procts with higher yields than deposit procts. Banks with higher income sources can also attract more RMB savings procts with larger scale and more preferential prices, so as to improve the enthusiasm of RMB exchange abroad and trade partners to use RMB
generally speaking, in the formation stage of offshore RMB market, Hong Kong market has a stock of more than 100 billion RMB, which is mainly held by indivials. The initial driving force is the appreciation expectation of RMB, and the investment procts are a few fixed rate procts such as deposits, treasury bonds, insurance and funds. With the graal opening of the return channel of RMB from Hong Kong to the mainland, income has become the main driving force of holding RMB. So far, it can be said that the offshore RMB market in Hong Kong has initially taken shape
growth stage
different from the previous stage, the main function and goal of RMB offshore market growth stage is to develop enough, sufficient scale, enjoy higher income, and trade more active procts to activate, start and increase the water flow of the two main channels under trade, and attract a wider range of trade settlement partners to start using RMB, So that the RMB offshore market will enter a mature stage as soon as possible
the purpose of developing RMB procts on a larger scale is to attract more institutional investors to participate in RMB investment, so as to attract large-scale trading partners to use RMB on a larger scale. To develop RMB procts with more trading vitality is to increase the liquidity leverage of overseas RMB. The stock of RMB in the overseas market is limited, so RMB procts in the offshore market need to have an active secondary trading market in order to have enough pulling power to increase the liquidity of RMB. If the stock of one yuan can bring seven or eight yuan of trading volume, equivalent to seven or eight yuan of RMB outflow, its leverage effect is obvious. Whether RMB procts can have higher trading volume largely depends on the level of proct income. The higher the income, the more likely the procts are to promote higher secondary market transactions
in order to develop procts with sufficient scale, quantity and active trading, we need to study two important issues: first, there must be sufficient initial RMB liquidity to ensure the success of issuance and trading; Second, there must be a more smooth channel for RMB to flow back to China, so as to create a source of revenue for procts and encourage the issuance of procts< On December 16, 2011, the pilot measures for RMB QFII domestic securities investment of fund management companies and securities companies were issued
mature stage
once the offshore RMB market has sufficient scale and liquidity, and the procts are graally diversified, a large number of import and export enterprises may choose to settle in RMB. At this time, the offshore RMB market of Hong Kong has entered a mature stage. As mentioned above, there will be a large amount of RMB in and out of the two main channels of outflow and inflow under RMB trade. The water quantity and pressure are not the same as before, because they are different from the design of artificial drainage, water injection and backflow in the first two stages. At this time, the water is the natural inflow and outflow of large water under trade. At the same time, a large amount of RMB will naturally exist in overseas circulation for a long time, which will further promote the virtuous cycle of overseas RMB and proct growth
at this time, the market size will far exceed the first two stages, and the driving force mainly comes from the RMB trade settlement. These funds may come from the RMB settlement of trade in neighboring countries and regions, as well as the arrangement of RMB swap agreements between the central banks of these countries and regions and the people's Bank of China. And the function of RMB trading market began to change from activator and promoter of RMB trade settlement to server< To sum up, 2010 is the formation stage of offshore RMB market. The main characteristics of this stage are as follows: RMB leaves the country in the form of a long flow of water, and is brought into the country in the form of personal small amount; The main procts are fixed interest deposits, which are basically market driven; The main driving force of income is the expectation of RMB appreciation, which begins to change to fixed income
at the same time, the market construction is in full swing, starting from the free circulation abroad, and the initial preparation for entering the whole market of RMB
starting from 2011, we hope that policy makers can graally reach a consensus on the development path and start to push the offshore RMB market into the fast lane of growth. The most prominent manifestations of the fast track are as follows:
first, the scale and diversification of RMB overseas procts and the rise of income curve< Second, the initiative and enthusiasm of policies and measures for RMB outflow and return have been greatly enhanced< Third, the secondary market transactions of RMB procts increased significantly< On January 18, 2016, the people's Bank of China announced that it would implement the normal deposit reserve ratio policy for the deposits of foreign financial institutions in domestic financial institutions (hereinafter referred to as offshore RMB) from January 25, 2016. The central bank explained that foreign financial institutions do not include foreign central banks (monetary authorities) and other official reserve management institutions, international financial organizations, sovereign wealth funds and other foreign central bank institutions
according to the 17% deposit reserve ratio, this reform will lock in about 221 billion yuan.
Introction
the current RMB settlement of cross-border trade is carried out under the capital account and the RMB is not fully convertible. The RMB flowing to overseas through trade can not enter the domestic capital market. In this case, to develop RMB trade settlement, we need to solve the circulation and transaction problems of RMB flowing out of China, so that enterprises with RMB can finance RMB, enterprises with RMB can integrate into RMB, and enterprises with RMB can obtain corresponding income, which requires the development of offshore RMB market, So that the RMB flowing abroad can be traded in the offshore RMB market; So that foreign enterprises holding RMB can finance, trade and obtain income in this market< In February 2004, [3] banks in Hong Kong began to pilot indivial RMB business, including deposit, remittance, exchange and credit card business. No more than RMB 20000 per person per day. By the end of July 2010, the stock of RMB in Hong Kong had reached 103.7 billion yuan
in July 2010, the settlement agreement signed under the leadership of the people's Bank of China and the Hong Kong Monetary Authority is a major breakthrough in the RMB market outside Hong Kong“ First of all, "water" has lived abroad, and is able to accept bigger and more "fish". At the same time, policy makers also fully realize that the nutrients in the pool of overseas RMB market can only come from the domestic market at the present stage, so they quickly started the RMB return mechanism, so that the overseas water can connect with the domestic income, and then the overseas development of larger scale and more procts can be realized. Allowing foreign financial institutions to invest their RMB stock in the domestic inter-bank bond market and the long-awaited small QFII will quickly promote the development of insurance procts and fund procts with higher yields than deposit procts. Banks with higher income sources can also attract more RMB savings procts with larger scale and more preferential prices, so as to improve the enthusiasm of RMB exchange abroad and trade partners to use RMB
generally speaking, in the formation stage of offshore RMB market, Hong Kong market has a stock of more than 100 billion RMB, which is mainly held by indivials. The initial driving force is the appreciation expectation of RMB, and the investment procts are a few fixed rate procts such as deposits, treasury bonds, insurance and funds. With the graal opening of the return channel of RMB from Hong Kong to the mainland, income has become the main driving force of holding RMB. So far, it can be said that the offshore RMB market in Hong Kong has initially taken shape
growth stage
different from the previous stage, the main function and goal of RMB offshore market growth stage is to develop enough, sufficient scale, enjoy higher income, and trade more active procts to activate, start and increase the water flow of the two main channels under trade, and attract a wider range of trade settlement partners to start using RMB, So that the RMB offshore market will enter a mature stage as soon as possible
the purpose of developing RMB procts on a larger scale is to attract more institutional investors to participate in RMB investment, so as to attract large-scale trading partners to use RMB on a larger scale. To develop RMB procts with more trading vitality is to increase the liquidity leverage of overseas RMB. The stock of RMB in the overseas market is limited, so RMB procts in the offshore market need to have an active secondary trading market in order to have enough pulling power to increase the liquidity of RMB. If the stock of one yuan can bring seven or eight yuan of trading volume, equivalent to seven or eight yuan of RMB outflow, its leverage effect is obvious. Whether RMB procts can have higher trading volume largely depends on the level of proct income. The higher the income, the more likely the procts are to promote higher secondary market transactions
in order to develop procts with sufficient scale, quantity and active trading, we need to study two important issues: first, there must be sufficient initial RMB liquidity to ensure the success of issuance and trading; Second, there must be a more smooth channel for RMB to flow back to China, so as to create a source of revenue for procts and encourage the issuance of procts< On December 16, 2011, the pilot measures for RMB QFII domestic securities investment of fund management companies and securities companies were issued
mature stage
once the offshore RMB market has sufficient scale and liquidity, and the procts are graally diversified, a large number of import and export enterprises may choose to settle in RMB. At this time, the offshore RMB market of Hong Kong has entered a mature stage. As mentioned above, there will be a large amount of RMB in and out of the two main channels of outflow and inflow under RMB trade. The water quantity and pressure are not the same as before, because they are different from the design of artificial drainage, water injection and backflow in the first two stages. At this time, the water is the natural inflow and outflow of large water under trade. At the same time, a large amount of RMB will naturally exist in overseas circulation for a long time, which will further promote the virtuous cycle of overseas RMB and proct growth
at this time, the market size will far exceed the first two stages, and the driving force mainly comes from the RMB trade settlement. These funds may come from the RMB settlement of trade in neighboring countries and regions, as well as the arrangement of RMB swap agreements between the central banks of these countries and regions and the people's Bank of China. And the function of RMB trading market began to change from activator and promoter of RMB trade settlement to server< To sum up, 2010 is the formation stage of offshore RMB market. The main characteristics of this stage are as follows: RMB leaves the country in the form of a long flow of water, and is brought into the country in the form of personal small amount; The main procts are fixed interest deposits, which are basically market driven; The main driving force of income is the expectation of RMB appreciation, which begins to change to fixed income
at the same time, the market construction is in full swing, starting from the free circulation abroad, and the initial preparation for entering the whole market of RMB
starting from 2011, we hope that policy makers can graally reach a consensus on the development path and start to push the offshore RMB market into the fast lane of growth. The most prominent manifestations of the fast track are as follows:
first, the scale and diversification of RMB overseas procts and the rise of income curve< Second, the initiative and enthusiasm of policies and measures for RMB outflow and return have been greatly enhanced< Third, the secondary market transactions of RMB procts increased significantly< On January 18, 2016, the people's Bank of China announced that it would implement the normal deposit reserve ratio policy for the deposits of foreign financial institutions in domestic financial institutions (hereinafter referred to as offshore RMB) from January 25, 2016. The central bank explained that foreign financial institutions do not include foreign central banks (monetary authorities) and other official reserve management institutions, international financial organizations, sovereign wealth funds and other foreign central bank institutions
according to the 17% deposit reserve ratio, this reform will lock in about 221 billion yuan.
7. RMB offshore business refers to the deposit business of RMB outside China
offshore market provides offshore financial business: the business in which both parties are non residents is called offshore financial business
the current RMB settlement of cross-border trade is carried out under the capital account and the RMB is not fully convertible. The RMB flowing abroad through trade can not enter the domestic capital market. In this case, to develop RMB trade settlement, we need to solve the circulation and transaction problems of RMB flowing out of China, so that enterprises with RMB can finance RMB, enterprises with RMB can integrate into RMB, and enterprises with RMB can obtain corresponding income, which requires the development of offshore RMB market, So that the RMB flowing abroad can be traded in the offshore RMB market; So that foreign enterprises holding RMB can finance, trade and obtain income in this market
the people's Bank of China supports the establishment of RMB offshore market in Hong Kong. The people's Bank of China is also studying whether it can establish an offshore RMB market in Shanghai. Before the RMB is not fully convertible, there will be a trading market for the RMB flowing out of the country, so as to promote and ensure the development of RMB trade settlement. After Singapore's Senior Minister Goh Chok Tong's visit to China in April 2011, Singapore officially joined the competition in the RMB offshore market.
offshore market provides offshore financial business: the business in which both parties are non residents is called offshore financial business
the current RMB settlement of cross-border trade is carried out under the capital account and the RMB is not fully convertible. The RMB flowing abroad through trade can not enter the domestic capital market. In this case, to develop RMB trade settlement, we need to solve the circulation and transaction problems of RMB flowing out of China, so that enterprises with RMB can finance RMB, enterprises with RMB can integrate into RMB, and enterprises with RMB can obtain corresponding income, which requires the development of offshore RMB market, So that the RMB flowing abroad can be traded in the offshore RMB market; So that foreign enterprises holding RMB can finance, trade and obtain income in this market
the people's Bank of China supports the establishment of RMB offshore market in Hong Kong. The people's Bank of China is also studying whether it can establish an offshore RMB market in Shanghai. Before the RMB is not fully convertible, there will be a trading market for the RMB flowing out of the country, so as to promote and ensure the development of RMB trade settlement. After Singapore's Senior Minister Goh Chok Tong's visit to China in April 2011, Singapore officially joined the competition in the RMB offshore market.
8.
Offshore RMB refers to the deposit business of RMB outside China
Relevant introction:the current RMB settlement of cross-border trade is carried out under the capital account and the RMB is not fully convertible. The RMB flowing to overseas through trade can not enter the domestic capital market
in this case, to develop RMB trade settlement, we need to solve the circulation and transaction problems of RMB flowing out of China, so that enterprises with RMB can finance RMB, enterprises with RMB can integrate into RMB, and enterprises with RMB can obtain corresponding income, which requires the development of offshore RMB market
Background:the main function and goal of RMB offshore market growth stage is to develop enough, sufficient scale, enjoy higher income, and invest more active procts to activate, start and increase the flow of water in the two main channels under trade, and attract a wider range of trade settlement partners to start using RMB, So that the RMB offshore market will enter a mature stage as soon as possible
2010 is the formation stage of offshore RMB market. The main characteristics of this stage are as follows: RMB leaves the country in the form of a long flow of water, and is brought into the country in the form of personal small amount; The main procts are fixed interest deposits, which are basically market driven; The main driving force of income is the expectation of RMB appreciation, which begins to change to fixed income
source: Internet offshore RMB
9. Offshore RMB refers to the deposit business of RMB outside China. The business in which both parties are non residents is called offshore financial business. Offshore market provides offshore financial business: the business in which both parties are non residents is called offshore financial business
the people's Bank of China supports the establishment of RMB offshore market in Hong Kong. The people's Bank of China is also studying whether it can establish an offshore RMB market in Shanghai. Before the RMB is not fully convertible, there will be a trading market for the RMB flowing out of the country, so as to promote and ensure the development of RMB trade settlement. After Singapore's Senior Minister Goh Chok Tong's visit to China in April 2011, Singapore officially joined the competition in the RMB offshore market.
the people's Bank of China supports the establishment of RMB offshore market in Hong Kong. The people's Bank of China is also studying whether it can establish an offshore RMB market in Shanghai. Before the RMB is not fully convertible, there will be a trading market for the RMB flowing out of the country, so as to promote and ensure the development of RMB trade settlement. After Singapore's Senior Minister Goh Chok Tong's visit to China in April 2011, Singapore officially joined the competition in the RMB offshore market.
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