Tibet Autonomous Region successfully conducted the first RMB cross-border direct investment in Nepal
The Araniko Project
China New Network, Lhasa May 11, (Reporter: Peng Zhijian)
The Tibet Regional Branch of the Bank of China has successfully remitted 750,000 RMB of investment funds to Nepal. This is the first cross-border RMB direct investment business in Nepal in the Tibet Autonomous Region, filling the business gap under the capital account of cross-border RMB settlement in Nepal from the Tibet Autonomous Region, marking the real "landing" of RMB in Nepal.
Tibet Kunhua Agricultural Development Co., Ltd., which handles this business, is mainly engaged in the development and promotion of agricultural technologies, and the agency sales of agricultural materials such as chemical fertilizers and organic fertilizers. With the rapid development of economic and financial cooperation in countries along the Belt and Road Initiative, the company has been preparing to invest in an organic fertilizer production base in Nepal since 2019. The company initially plans to invest 3 million RMB to build an organic fertilizer processing, manufacturing and sales enterprise using local livestock manure and crop straw as raw materials.
After learning about the company's project investment plan, the Lhasa Central branch of the People's Bank of China (hereinafter referred to as "Lhasa Central Branch of the People's Bank of China") actively urged and guided the People's Bank of China Tibet Branch to continue to follow up services, strengthen the publicity of cross-border RMB business, and guide enterprises to actively use RMB cross-border services. border settlement.
At the beginning of 2022, Tibet Kunhua Agricultural Development Co., Ltd. handled the RMB cross-border direct investment business for the first time, and encountered many challenges in the preliminary preparation process.After learning about the difficulties of the enterprise, Bank of China Tibet Branch continued to optimize financial services, and strive to solve the problems and difficulties encountered in the process of the enterprise's RMB cross-border direct investment, On April 13, the company successfully conducted the RMB cross-border direct investment business in Nepal, which effectively played the role of cross-border RMB business serving the real economy.
The Lhasa Central Branch of the People's Bank of China stated that it will continue to focus on serving the real economy, guide banking institutions in the jurisdiction to efficiently implement various cross-border RMB policies, open up the "the last kilometer"" of policy implementation, and provide more professional and convenient cross-border transactions for foreign trade enterprises in the region. Furthermore, RMB will be continued to be promoted in the surrounding areas of the Tibet Autonomous Region and countries along the “Belt and Road”, providing strong support for the high-quality development of Tibet’s foreign economy.
The original version of this article can be found here