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Are all trade transactions conducted with counterparts in Mainland China allowed to be settled in RMB?

April 26, 2017allowed China conducted counterparts mainland RMB settled Trade transactions

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Are all trade transactions conducted with counterparts in Mainland China allowed to be settled in RMB?

1 Answer

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RMB trade settlement is only applicable to those customers who conduct cross-border trade transactions with the Mainland designated enterprises (“MDEs”) located in pilot Mainland cities, i.e. Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan for the time being.