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Source:Big Middle Small

According to Hualong News, on 13 Feb, at the news briefing of Chongqing business management division of the People's Bank of China, the reporter was informed that Singapore has become the third largest overseas area of Chongqing cross - border RMB settlement. Last year, Chongqing Grain Group and other four companies successively went to Singapore to issue RMB bonds totaling 2.9 billion yuan, and all backflow.

According to the introduction of officials from the Currency and Credit Management Office of the Chongqing business management division, the city cross-border RMB settlement work continued to advance last year.

In the aspect of the amount of settlement, Chongqing continue to be at the forefront of the central and western regions. Data show that in 2016, the city's banking institutions handled a total of cross-border RMB real settlement and payment of 114.04 billion yuan, ranking the 11th in China, and the second in the central and western regions of China. It involves 118,8 companies, setting a record, with a year-on-year increase of 15.3%.

At the same time, the cross-border RMB innovation pilot business of the China-Singapore (Chongqing) strategic interconnection demonstration project is steadily prompted. Last year, Chongqing Grain Group Co., Ltd., China Technology Financial Leasing Co., Ltd., Longxin Holdings Limited and other two companies went to Singapore and issued bonds with a total of 2.9 billion yuan, and all backflow.

Last year, the amount of actual settlement and payment of cross-border RMB between Chongqing and Singapore was 12.94 billion yuan, up by 35.2%, accounting for 11.3% of the actual settlement and settlement of cross-border RMB in Chongqing, up 6.5% from 2015. Singapore has become the third largest overseas area of Chongqing cross - border RMB settlement.

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