Li Bo, Director of the Department of Law and Law of the People's Bank of China, said in an interview with the Chinese government website on August 24 that the pilot cross-border settlement of RMB has been carried out for more than a month, and the settlement volume has steadily expanded. The relevant participating departments are familiar with the operation process as soon as possible. Party supporting work is being carried out intensively. At present, the management measures for the RMB cross-border payment and collection information management system are being formulated; matters such as the Memorandum of Understanding between the People's Bank of China and the General Administration of Customs, the State Administration of Taxation, and the system networking are being discussed; the specific measures for tax refund (exemption) are also Step up the development. After these tasks are completed, the pilot work of RMB settlement for cross-border trade will take a new step.

Li Bo said that the current enthusiasm of enterprises is very high. Many provinces and cities have reported to the State Council on the pilot of cross-border trade settlement of RMB. Relevant departments will, on the basis of further improving the pilot system, promptly request the State Council to expand the geographical scope of pilot projects in China. At the same time, countries that have signed a local currency swap agreement with China also hope to start the pilot work of local currency settlement as soon as possible.

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