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Mainland pushes for currency clearing mechanism with Taiwan
Source: Xinhua |
March 30, 2011, Wednesday
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THE Chinese mainland is actively considering an "appropriate way" to set up a cross-Strait currency clearing mechanism and expects early progress in this regard, a government spokeswoman said today.
Expanding cross-Strait economic exchanges and increasing mutual visits require the two sides across the Taiwan Strait to establish a mechanism for currency clearing without delay, Fan Liqing, spokeswoman for the Taiwan Affairs Office of the State Council, told a press conference here.
She said the mainland already allowed mutual conversion of New Taiwan Dollar and RMB cross-border trade settlement to be conducted on a larger scale in the mainland.
"No policies of the Chinese mainland are any obstacle to cross-Strait trade settlement in RMB," she added.
Under a cross-Strait agreement, the Chinese mainland had authorized the Bank of China (Hong Kong) Limited, to provide RMB cash settlement services to Taiwan, she said.
"These measures have laid a foundation for a cross-Strait currency clearing mechanism," Fan said.
The set-up of the mechanism has been included into China's 12th five-year development plan starting this year.
Expanding cross-Strait economic exchanges and increasing mutual visits require the two sides across the Taiwan Strait to establish a mechanism for currency clearing without delay, Fan Liqing, spokeswoman for the Taiwan Affairs Office of the State Council, told a press conference here.
She said the mainland already allowed mutual conversion of New Taiwan Dollar and RMB cross-border trade settlement to be conducted on a larger scale in the mainland.
"No policies of the Chinese mainland are any obstacle to cross-Strait trade settlement in RMB," she added.
Under a cross-Strait agreement, the Chinese mainland had authorized the Bank of China (Hong Kong) Limited, to provide RMB cash settlement services to Taiwan, she said.
"These measures have laid a foundation for a cross-Strait currency clearing mechanism," Fan said.
The set-up of the mechanism has been included into China's 12th five-year development plan starting this year.
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