RMB Cross Border Trade Settlement Scheme

The RMB Cross-Border Trade Settlement Pilot Scheme was launched in July 2009 and has been expanded several times since. Currently, RMB trade settlement is permitted as follows:

(Import = import into China; Export = export from China)

Geographical Coverage:

• Companies in any territory worldwide may trade in RMB (subject to any local restrictions)
• Companies in any province and city in Mainland China may trade in RMB (subject to MDE restrictions for goods export trade). 

Permitted Companies:

• All overseas companies may trade in RMB (subject to any local restrictions)
• 67,724 Mainland Designated Enterprises (MDEs) may export goods in RMB
• Any mainland company may import goods in RMB
• Any mainland company may import or export services in RMB

Last Updated: 2011-10-27

Mainland Designated Enterprise (MDE) Status

MDEs are Chinese entities that have been permitted to settle export goods trade under the RMB Trade Settlement Pilot Scheme. MDE eligibility is determined by the China's central bank (PBOC), together with five other authorities (the Ministry of Finance, the Department of Commerce, the General Administration of Customs, the General Tax Bureau and the Banking Supervision Commission).

Additions to the MDE list are announced in batches. The latest list of MDEs (in Chinese) can be found on the PBOC website here.

HSBC customers who wish to be nominated as an MDE should contact their Relationship Manager.

For more information, please contact:HSBC Commercial Banking Hotline: 400 882 6688

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