Is there any restriction for commercial customers to conduct RMB exchange for cross-border trade settlement transactions? Is it necessary to submit any supporting documents in the regard?
Yes. For RMB exchange for the cross-border trade settlement, commercial customers are required to submit RMB Exchange Instruction & Declaration form and relevant trade documents in relation to their cross-border trade transactions. Relevant trade documents include sales invoice, transport documents issued by a third party and any other trade related supporting documents as required by the Bank from time to time. The RMB exchange amount must not be larger than the amount shown on the cross-border trade documents.
