Shanghai Pudong Development Bank Successfully Handled The First Single Foreign Cross-border RMB Remittance And Remittance Business

- Mar 12, 2018-

Shanghai Pudong Development Bank successfully handled the first single foreign cross-border RMB remittance and remittance business


A few days ago, Shanghai Pudong Development Bank successfully handled the first single foreign cross-border RMB remittance and remittance business. This business not only satisfies the actual needs of overseas individuals to transfer domestic legal RMB income overseas, but also marks a new breakthrough in the progress of RMB internationalization.


At the beginning of this year, the People’s Bank of China issued the “Notice on Further Improving Cross-border RMB Business Policies and Facilitating the Trade and Investment Facilitation” (Yinfa [2018] No. 3). It was clarified that the bank could apply for other individuals on the basis of the “three principles of exhibition industry”. The RMB cross-border receipt and payment service of the current project facilitates foreign individuals to remit their domestic legal RMB income overseas. In order to fully implement the relevant requirements of the "Notice", Shanghai Pudong Development Bank promptly launched business promotion.


It is reported that the first single-handed client of Shanghai Pudong Development Bank is an overseas individual who works in a foreign bank in China and needs to remit a legal RMB income from domestic work in RMB as the settlement currency to meet the employee's remuneration, social welfare, and family members' RMB cross. Settlement needs. After learning about the specific needs of customers, SPDB immediately determined the compliance, timeliness, and precautions of the business process. Adhering to the SLA service agreement, it actively moved the service forward and finally ensured the smooth remittance of the first business. The customers expressed great praise and recognition for SPD’s efficient business processing speed.


Shanghai Pudong Development Bank Shanghai Branch has always been oriented towards serving the real economy and promoting trade and investment facilitation, innovating financial products through existing RMB cross-border business policies, continuously improving financial service capabilities, and satisfying the real and compliant cross-border RMB business of market entities. demand