The first cross-border RMB loan size of about 20 million agreement interest rate of 4% -5%

Published: 6:57:54 January 29,2013  Views: 89

Zhong Hui

Cross-border RMB loans the end of an ice-breaking, Qianhai financial reform is a substantial step forward.

January 28, sponsored by the People's Bank of China Shenzhen Central Sub-branch, Shenzhen Municipal Finance Office, before the sea Authority before the sea cross-border RMB loan signing ceremony, held at the Shenzhen Civic Center.

According to reporter understanding, among the first to participate in the contract, including the Bank of China (3.02,0.06,2.03%) (Hong Kong), HSBC (Hong Kong), 15 bank branches in Hong Kong, as well as the development of Qianhai Investment Holdings Limited 15 enterprises registered Qianhai signed a total of 26 of the the Qianhai cross-border RMB loan projects, about 20 billion yuan of the total amount of the agreement, the loan RMB funds will be used for the development and construction of the former Sea region, the level of interest rates of the loan agreement 4 % -5%.

Shenzhen Municipal Finance Office, said, With the the former sea cross-border RMB loans officially entered the implementation phase, there will be more cross-border renminbi to Hong Kong banks lending business enterprises registered the first sea-Shenzhen-Hong Kong modern service industry cooperation zone(http://www.best-news.us/).

'The former sea cross-border RMB loans still in the exploratory stage, because in accordance with existing laws and regulations, many of the details of the cross-border RMB loans is still a gray area,' a joint-stock bank the international department official said, 'Qianhai enjoying relatively more lenient policy, but for the cross-border RMB loans, the People's Bank is also only gives a framework for specific banks also need to continue to try. '

Qianhai icebreaking

The reporter was informed, to participate before the sea cross-border RMB loans among the first signing of including BOC, ICBC, cross the line, China Construction Bank, Agricultural Bank of China, the country opened the line, China Merchants Bank, CITIC, Dah Sing, Standard Chartered, Wing Lung, East Asia, HSBC, Hang Seng, Nanyang Commercial Bank Hong Kong or branches, 15.

In addition to the Agricultural Bank of China and Shenzhen Petrochemical Exchange Qianhai petrochemical industry development loans intention strategic agreement, both formal cross-border RMB loan agreement signed.

Participate in the signing of 15 Qianhai enterprises mainly include the Qianhai Development Investment Holdings downwind of e-commerce, IT Tencent electricity supplier, Konka photovoltaic technology, Baotong world supply chain, etc., mainly in investment, e-commerce, logistics, supply chain industries. including ICBC, Bank of China, respectively, with the four companies signed a loan agreement, China Merchants Bank and three companies signed the loan agreement, Qianhai development investment holding more is with ICBC, cross the line, HSBC, Hang Seng and other 10 banks signed the loan agreement, Bao Tong world supply chain with ICBC, China Merchants Bank, 4 Bank signed a loan agreement the downwind e-commerce also signed a loan agreement with two banks(Finance News http://www.best-news.us/).

RMB funds of the loan will be used for the development and construction of the former Sea region. << Qianhai cross-border RMB Loan Interim Measures >> << way >>) (hereinafter referred to as the the former sea cross-border RMB loan funds may not be used for investment securities and financial derivatives, and may not be used for entrusted loans, shall not be used to buy financial products, and shall not be used to purchase non-owner-occupied real estate.

<< Way >> the Qianhai enterprises to banks in Hong Kong to apply for cross-border RMB loans before clearing bank must be submitted to the People's Bank of basic materials, and the approved loan amount. According to this reporter learned that the first contract business almost all of the bank clearing bank in associated banks.

'It takes the bank the two agencies cooperate with each other, the most critical is the system of foreign banks in this regard is better to solve the allocation problem of financial revenue and expenditure of the two places, and some Chinese banks have come to our side before the study tour.' Involved in the signing of a The foreign bank executives said.

In terms of interest rates, the People's Bank is not limited, determined through consultation by the enterprises with the lending bank. 'Hong Kong is not limited to interest rates, the interest rates are different at different times in different banks, but generally lower than the Mainland.' Said foreign banks executives said, cross-border RMB loans is not a simple price problem, from the perspective enriches the financing channels, to speak from the point of view of the bank to increase the types of business, from a macroeconomic viewpoint accelerate the process of internationalization of the RMB. '

According to this reporter learned that the signing of the cross-border the RMB loan agreement interest rates of 4% to 5%.

Enable bidirectional loans

It is worth noting that the Interim Measures of Association >> Article published on December 28, 2012 by the People's Bank of China Shenzhen Central Sub-branch << Qianhai management of cross-border RMB loans expressly: << way >> and the conditions alleged Qianhai cross-border RMB loans to qualified domestic enterprises from Hong Kong banks to conduct RMB business to borrow RMB funds.

However, the contract in addition to the domestic banking institutions and enterprises Qianhai Construction Bank (4.79,0.10,2.13%) Shenzhen Branch, Bank of Communications (5.24,0.15,2.95%) Shenzhen Branch two mainland banks Rich International Development Co., Ltd., BOLAND International (HK) Co., two Hong Kong companies, signed the the RMB loan agreement of the offshore projects, loans amounting to 620 million yuan.

A joint-stock banks international stakeholders 'way according to the People's Bank of << >> cross-border RMB loans is the forward sea in Hong Kong's banking check loans the Mainland bank loans to enterprises in Hong Kong << way >> provisions outside the scope of the business. '

From a circulation point of view, the two-way loans are an inevitable trend, due to the interest rate differential and arbitrage space of reasons, banks in Hong Kong to Mainland enterprises loans actively sexual stronger. 'Central University of Finance and Economics professor Guo Tian Yong [micro-Bo] said,' a micro perspective, To open the channels of the yuan in overseas investment in the future to participate in the Hong Kong RMB market transactions, there will be more room for arbitrage, so offshore RMB demand will be even greater. '

'It is only the beginning, the size of loans are relatively small, the number and size of the enterprises of this in front of the sea is too small to be relevant. Increase as the settled before the sea enterprise, the future will be quite different, cross-border loans just RMB international part.' International Department sources said the joint-stock banks.

Qianhai Authority said the pilot, the 2014 Sea region's GDP reached 400 billion yuan, an average annual growth rate of the modern service industry and strive to more than 50% .1 May 26, Qianhai Authority announced << Qianhai modern service industry pilot the first batch of 2012 intends to support the project list >> including 19 Qianhai enterprises in Shenzhen Petrochemical Exchange Yawei thousand joint venture this method of support, including financial subsidies, interest payments on loans, equity investments other ways.

In addition to the the Qianhai cross-border RMB loans in the internationalization of the RMB reform, the People's Bank has began in November 2012 with another Chinese banks in the Standard Chartered Bank [microblogging] purposes of pilot RMB cross-border lending business. Among them, the Standard Chartered Bank has help of a US-owned multinationals successfully applied to the Shanghai headquarters of the People's Bank of China 33 billion yuan cross-border lending limit for RMB cross-border loans to its overseas affiliated companies support the multinational regional headquarters in China.

(Reporter Chen Yingying also contributed to this article)



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