Economies should watch for cross-border settlement

Jiaxing exchange administrator recently invited the experts to explain the policies for exchange management at the meeting held on <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />2010’s tasks.

As reported, Jiaxing has achieved total amount of profits by 18.392 billion dollars, decreased 9.14 percent year on year, including the income of 12.874 billion and expenses at 5.518 billion dollars. Officials say they will trace the risks on cross-border deals and perfect exchange management to push forex-reform and innovation.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Manager of Zhejiang provincial exchange regulator, Wu Shuiping urges the enterprises to pay more attention to yuan business and the trend of exchange policies, “presently, the tourism in South-east Asian countries can be settled in yuan, and in next stage, yuan settlement can be extended to the trading in this area”.