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Cross-border RMB "through train" service helps Guizhou Zhengan Guitar "go global"


The guitar industry is the characteristic and pillar industry of Zheng'an County, Guizhou Province, and it is also an emerging characteristic export industry that has grown rapidly in Guizhou Province
At present, Zheng'an Guitar Cultural Industrial Park has an annual output of more than 6 million guitars, which are exported to more than 30 countries and regions around the world, and has become the region with the largest market share of guitar production and sales in the country. In 2021, of the 35 guitar sales companies in the park with foreign trade import and export qualifications, 6 have handled cross-border RMB settlement business, with a total annual settlement volume of 16.54 million yuan, 8.3 times that of the same period in 2020; another 5 Enterprises and financial institutions have reached cross-border RMB business cooperation intentions. Zhengan Guitar is taking the cross-border RMB direct "express" to achieve the dual goals of avoiding exchange rate risks and improving the efficiency of capital use.
The data shows that the cross-border RMB business in Guizhou has achieved "double improvement". In 2021, the actual receipts and payments will be 19.83 billion yuan, a year-on-year increase of 6.7%, accounting for 23.3% of the actual receipts and payments in local and foreign currencies, an increase of 1.7 percentage points compared with the same period in 2020; The actual receipts and payments under the current account and direct investment closely related to the economy were 7.46 billion yuan, a year-on-year increase of 15.7%, accounting for 11.7% of the actual receipts and payments in domestic and foreign currencies, an increase of 0.65 percentage points compared with the same period in 2020; 370 enterprises in the province handle cross-border transactions RMB business, an increase of 26 compared with the same period in 2020, 28 counties opened cross-border RMB business, and 12 counties achieved zero breakthrough in cross-border RMB business.
Responsible editor: Yuan Hao