Title: The Opportunities and Challenges of Cross-Border Renminbi Business of Commercial Banks
Abstract: The development of cross-border renminbi business will enhance the comprehensive competitiveness of banks,promote the process of banking internationalization,expand high-quality customer resources and the balance business of banks,increase intermediary business revenue and promote the financial innovation of banks.However,at present,the cross-border renminbi business is not highly accepted outside and it has not formed the advantage of scale.The innovation ability of cross-border renminbi business is low and the international operation and the ability of global service should be upgraded.Meanwhile,the pressure of market competition is increasing.Chinese commercial banks should accelerate international operations and the construction of global clearing network,improve the ability of financial innovation,consolidate and expand the resources of domestic and overseas clients,improve domestic and foreign institutions' abilities to manage risks management,train and introduce various kinds of international talents,seize the markets of cross-border RMB business,enhance competitiveness and influence in international banking.
Publication Year: 2012
Publication Date: 2012-01-01
Language: en
Type: article
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