3 6 Ke·2025-09-17 09:32Core Viewpoint - The article discusses the increasing importance and benefits of cross-border RMB settlement for Chinese foreign trade enterprises, highlighting the resilience of China's foreign trade amidst external pressures and the evolving landscape of cross-border financial services. Group 1: Cross-Border RMB Settlement - A Zhejiang foreign trade enterprise found that using cross-border RMB settlement significantly reduced exchange rate risks and improved operational efficiency compared to traditional USD settlements [1] - The People's Bank of China has been actively promoting the convenience of cross-border RMB settlement, enhancing cooperation with foreign central banks [1][9] - The RMB's global payment function has strengthened, with its internationalization level steadily increasing, supported by policy and market forces [3][12] Group 2: Financial Institutions' Role - Chinese financial institutions are evolving from single service providers to ecosystem hubs, responding to the diverse needs of enterprises in cross-border financial services [2][15] - The establishment of the Cross-Border Interbank Payment System (CIPS) has optimized payment pathways, reducing transaction times and costs [6][10] - Banks are increasingly offering tailored financial solutions, such as currency risk hedging and supply chain financing, to meet the specific needs of enterprises [16][19] Group 3: Market Trends and Challenges - The shift in trade flows towards Southeast Asia and other emerging markets has led to a growing demand for multi-currency settlement options among foreign trade enterprises [9][10] - Despite the progress, challenges remain, including the need for improved financial infrastructure in certain regions and the complexities of international regulations [22][32] - The competitive landscape in cross-border financial services is intensifying, with institutions needing to innovate to maintain a competitive edge [35] Group 4: Future Outlook - The article emphasizes the necessity for banks to enhance their cross-border financial ecosystems and to integrate data systems with customs, tax authorities, and logistics providers for better service delivery [34] - There is a call for more supportive policies to facilitate cross-border financing and to lower barriers for small and medium-sized enterprises in accessing financial products [35]