RMB To Enter SDR, Korea And Japan Cross Border Electricity Providers To Usher In An Opportunity

RMB joined the SDR good Korea and Japan cross-border electricity supplier, short-term impact on cross-border electricity providers in Europe and the United States is limited.

In December 1st, IMF (International Monetary Fund) formally announced that the yuan will formally join SDR (Special Drawing Rights) in October 1, 2016.

At that time, the renminbi will become a new international reserve currency after the US dollar, euro, pound sterling and Japanese yen.

With reporters watching, people's concerns about SDR may be over IMF's imagination.

It is easy to see from WeChat's circle of friends that many people are waiting for IMF to announce the answer overnight.

The reason for this concern is that after the RMB enters the basket of SDR currencies, it will have a significant impact on the economic life of the Chinese people. Many of them still have uncertainty.

In the majority view, at the macro level, since the SDR basket currency is usually regarded as a safe haven currency, after the RMB has entered the basket, it will undoubtedly increase the scope and frequency of the RMB and other institutions in other countries.

With the rising demand for RMB in the international market, the RMB exchange rate remains basically stable or even stronger.

For enterprises, when the RMB is included in the reserve pool of central banks, Chinese exporters, importers and enterprises with foreign related businesses will no longer need to use dollars or anything else.

As a medium, it is no longer necessary to pay the exchange rate cost and exchange fee, and all the savings will be the profits of the enterprise.

This is for China's bulk export industry.

China's bulk import industry (energy, technology, mining, etc.), and tourism and other foreign-related services have positive significance.

At the same time, as Chinese enterprises continue to go out in recent years, when the RMB is internationalized, it can directly invest and compile financial statements of overseas assets through renminbi, and it can also save a large amount of additional currency exchange costs.

RMB accession

For cross-border electricity providers, such as Japan and South Korea, its positive role is greater than that for cross-border electricity providers in Europe and the United States. The reason is that neighboring countries have a higher degree of acceptance of RMB.

"At this stage, the impact of RMB joining the SDR on cross-border electricity providers across Europe and the United States will not be too great, mainly because the current cross-border electricity providers are basically settled in US dollars. If the settlement is required by the buyer and the buyer, and the European Americans prefer to settle in the US dollar, the internationalization of the US dollar will be difficult to change in the short term."

For individuals, in addition to outbound travel can save the trouble of foreign exchange, the current full swing cross-border electricity providers, will also be "fueled by the fire".

"After joining the SDR, the RMB has become a real sense of world currency, and the RMB exchange rate will be supported, which is conducive to cross-border investment and paction. These will also promote the further development of cross-border electricity providers," said Zhang Zhou Ping, director of the cross-border e-commerce Department of the China Electronic Commerce Research Center.

It is worth mentioning that there was good news a few hours before the yuan was allowed to join SDR.

On the afternoon of November 30th, the South Korean parliament approved the Sino Korean free trade agreement and formally implemented tariff preferential measures from January 1, 2016.

It is reported that the Sino Korean free trade agreement is the most widely covered and most widely traded FTA signed by China so far.

The signing of the FTA between China and South Korea will benefit cross-border electricity providers.

Most of the cosmetics are based on Japan and Korea, and the price will definitely decrease.

For cross-border electricity providers, especially for jumei.com and other electricity suppliers, which are relatively large products in Japan and Korea, it is absolutely good, "said Mo Daiqing, director of the online retail department of the China Electronic Commerce Research Center.