摘要
Soaring yuan settlements in cross border trade and on booming offshore markets are proving the strategicimportance of overseas RMB- clearing banks. Currently, yuan settlements in cross-border trade can be made via overseas RMB clearing banks or domestic agent banks. However, in view of offshore market regulations and the relevant laws, foreign participating banks are inclined to open accounts outside the Chinese mainland. Therefore, approval bythe central bank to handle the clearing of RMB overseas brings with it substantial increases in deposits and rising revenues for agency businesses.
