The State Council issued a document to promote cross-border e-commerce settlement in RMB

Recently, the General Office of the State Council issued the “Guiding Opinions on Promoting the Healthy and Rapid Development of Cross-Border E-Commerce.” The “Opinions” pointed out that domestic banks and payment institutions are encouraged to carry out cross-border electronic payment services in accordance with laws and regulations to meet the cross-border electronic payment needs of domestic and foreign enterprises and individuals. Promote the use of RMB pricing and settlement in cross-border e-commerce activities.
The “Opinions” stated that in recent years, my country’s cross-border e-commerce has developed rapidly and has formed a certain industrial cluster and transaction scale. Supporting the development of cross-border e-commerce is conducive to using “Internet + foreign trade” to achieve optimal import and export, giving full play to my country’s advantages as a major manufacturing country, expanding overseas marketing channels, rationally increasing imports, expanding domestic consumption, and promoting the transformation and upgrading of enterprises and foreign trade.
The “Opinions” require that e-commerce payment and settlement management be improved. Steadily promote the pilot cross-border foreign exchange payment business of payment institutions. Domestic banks and payment institutions are encouraged to carry out cross-border electronic payment services in accordance with laws and regulations to meet the cross-border electronic payment needs of domestic and foreign enterprises and individuals. Promote the use of RMB pricing and settlement in cross-border e-commerce activities. Support domestic bank card clearing institutions to expand overseas business. Strengthen the monitoring of large-value online e-commerce transactions to prevent financial risks.