24 Feb 2014
Glossary: Rmb trade settlement
The Chinese mainland announced the Pilot Rmb Trade Settlement Scheme in April 2009, with eligible enterprises allowed to settle in Rmb their merchandise trade with enterprises in Hong Kong and ASEAN countries. The scheme was extended in 2011 to allow all importers and exporters in all provinces and cities on the Chinese mainland to settle in Rmb their merchandise trade with the rest of the world. Besides, service trade can also be settled in Rmb.