The commercial financial service bureau of Kunming Economic and Technological Development Zone issued statistics on foreign exchange transactions through Kunming Area of China (Yunnan) Pilot Free Trade Zone integrated service center, which promotes the internationalization of RMB.

The commercial financial service bureau of Kunming Economic and Technological Development Zone has continued promoting the improvement of cross-border financial services, focusing on promoting cross-border RMB settlement, facilitating cross-border investment and financing, and providing more comprehensive and high-quality cross-border financial products and services for individuals and enterprises in and outside Kunming Area of China (Yunnan) Pilot Free Trade Zone since the beginning of this year.

Relying on the Pan-Asian business center of Yunnan branch of Agricultural Bank of China, the Bureau not only updates the foreign exchange rates of Laos, Thailand, Myanmar and Vietnam, but also showcases the statistics on foreign exchange transactions of Agricultural Bank of China in US dollars, Thai baht, Myanmar dollars and Vietnamese rupiah, which has formed a favorable demonstration effect.

At present, banks in the Kunming Area have realized counter exchange transactions of Thai baht, Lao Kip and other currencies, laying solid foundation for promoting the internationalization of RMB. Carrying out foreign exchange listing transactions in surrounding countries will further stimulate the foreign trade vitality of export-oriented economic entities, facilitate the cross-border capital flow of enterprises, and improve the business environment of Kunming Area.

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(Editors: Rachel, Amy)