On June 17, Du Peng, Director of the Current Account Management Department of the State Administration of Foreign Exchange, stated at the second quarter regular press conference of the State Administration of Foreign Exchange that since the launch of the pilot cross-border e-commerce foreign exchange payment business in 2013, through third-party payment The total number of cross-border electronic transactions handled by institutions has reached 1.329 million, with an amount of US$3.32 billion. Among them, the transaction volume from January to May this year was close to the total amount last year.
According to Du Peng, the current cross-border electronic payment pilot has been extended to the whole country, and the equivalent limit for a single transaction has also been expanded from US$10,000 to US$50,000. Individuals and businesses do not need to rely on customs declaration forms and other documents to settle foreign exchange as in the past. As long as they have electronic data from each transaction link of e-commerce, they can handle cross-border electronic payment services at payment institutions. Overall, the results are good. The average single payment is basically within $100, which is far below the transaction limit of $50,000.
Du Peng said that based on the situation of mailing goods abroad in scattered mail, the Foreign Exchange Administration has selected Zhejiang and Fujian, where personal trade is relatively developed, for pilot projects in 2014, allowing commercial documents such as logistics vouchers to be used instead of customs declaration forms. Collect exchange settlement vouchers. In the next step, we will actively study whether the payment limit can be further expanded on the basis of controllable risks.