Skip to main content

Legal Update

Recent Developments in RMB Cross-Border Settlements

21 July 2011
Mayer Brown Legal Update
To speed up the internationalisation of Renminbi (RMB) as a currency to settle cross-border transactions of capital account items, the Ministry of Commerce (MOFCOM), the State Administration of Foreign Exchange (SAFE) and the People's Bank of China (PBoC) have issued a series of administrative circulars since January 2011. These recent developments have put jigsaw puzzles together in respect of using RMB to settle not only such current account items as cross-border commodity trade and services but also such capital account items as inbound foreign direct investment (FDI), outbound direct investment (ODI) and shareholder loans.
The Build a Report feature requires the use of cookies to function properly. Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently. If you do not accept cookies, this function will not work. For more information please see our Privacy Policy

You have no pages selected. Please select pages to email then resubmit.