Latest topics
» NIBIRU News ~ More Strange Sightings on This Broadcast Folks plus MORE
Today at 1:17 am by PurpleSkyz

» #QTard Drama Theater - You Are The News Now plus more
Today at 1:11 am by PurpleSkyz

» Jeff Rense and Dr. Eric Karlstrom PhD - More On Burgeoning AI & EMF Mind Control
Today at 12:51 am by PurpleSkyz

» TELESCOPE MOON: Mysterious Dome Structure Found On Crater Alpetragius
Today at 12:29 am by PurpleSkyz

» Terral Blackstar Special Report ~ The Week the Earth Stood Still 02.19.2019
Today at 12:25 am by PurpleSkyz

» Earth's skies once AGAIN spotted in RARE form! - #Snownado
Today at 12:21 am by PurpleSkyz

» Large fireball over Belgium and Netherlands, seen also from UK, France, Germany and the island of Mayotte
Today at 12:17 am by PurpleSkyz

» Large sinkholes opening in central Turkey's Konya Province
Today at 12:13 am by PurpleSkyz

» #LIVE #QANON NEW Q HOW THEY STEAL AND LAUNDER #MONEY @POTUS
Yesterday at 11:47 pm by LadyDragon

» FADE to BLACK JImmy Church w/ Richard Dolan : The Big UFO Update
Yesterday at 8:22 pm by PurpleSkyz

» BLUE CHICKEN CULT - Alliance vs Deep State: The Final Showdown! David Wilcock Best Interview Ever! [Part 3]
Yesterday at 8:20 pm by PurpleSkyz

» Black Ops Operator Comes Forward And Tells All:Cody Snodgres
Yesterday at 7:17 pm by PurpleSkyz

» UFO News ~ Huge UFO traveling in space next to Orion Nebula plus MORE
Yesterday at 6:49 pm by PurpleSkyz

» #QTard Drama Theater - Q'd.. The Real Red/Green Castle Anons plus more
Yesterday at 6:39 pm by PurpleSkyz

» Cops Take Shelter Dogs On Rides Around Town To Increase Their Chances Of Adoption
Yesterday at 2:49 pm by Consciousness Of Economic

» McDonald’s French Fries Found to Contain Silly Putty Ingredient and Petroleum Chemical
Yesterday at 2:46 pm by Consciousness Of Economic

» OK, Let’s Talk Immunity
Yesterday at 2:42 pm by PurpleSkyz

» They wouldn't lie to us about THIS - Would You NASA?
Yesterday at 2:40 pm by PurpleSkyz

» TMZ Reports Ginsberg Alive
Yesterday at 2:36 pm by PurpleSkyz

» NIBIRU News ~ INCREDIBLE SIGHTINGS ARE BEING WITNESSED plus MORE
Yesterday at 2:32 pm by PurpleSkyz

» Transparent Solar Panels Will Turn Windows Into Green Energy Collectors
Yesterday at 2:30 pm by PurpleSkyz

» UFO Disguised As Comet Slowed Down Rotation When Nearest To Earth
Yesterday at 2:25 pm by PurpleSkyz

» Above Majestic
Yesterday at 12:55 pm by Consciousness Of Economic

» 16 DAY FORECAST OUTBREAK CONTINUES PACIFIC #WEATHER WARFARE LIVE!! #ANALYSIS
Yesterday at 12:54 pm by Consciousness Of Economic

» A Box of Chocolates
Yesterday at 12:54 pm by Consciousness Of Economic

» Tyranny Rolls On: UN Travel Systems Grant "Authority To Transport,' Say Bye Single Family Homes
Yesterday at 12:53 pm by Consciousness Of Economic

» Hoodwinked Bamboozled Satanites
Yesterday at 12:52 pm by Consciousness Of Economic

» Russell Means: Prove Me Wrong
Yesterday at 12:51 pm by Consciousness Of Economic

» Electricity - Lasers from SPACE - UTILITIES Have a "BIG" SECRET and SUN TAX - RAIN TAX
Yesterday at 12:51 pm by Consciousness Of Economic

CLICK THE SUBSCRIBE BUTTON BELOW TO RECEIVE OUR DAILY NEWSLETTER

A 2ND EMAIL COMPLETES THE ACTIVATION PROCESS




CLICK THE PURPLE BUTTON TO VIEW OUR LATEST POSTS






CHARITY WATER PROJECT
100% OF DONATIONS GOES TO PROVIDING CLEAN WATER TO THOSE IN NEED


www.charitywater.org

1 in 10 people lack access to clean water. We’re on a mission to change that. Here’s how.



Private donors cover our operating costs so 100% of your donation will bring clean water to people in need.

www.charitywater.org




You are not connected. Please login or register

Out Of Mind » THE INSANITY OF REALITY » GOVERNMENT & THE NEW WORLD ORDER » First currency trading center opened on Vietnam-China border

First currency trading center opened on Vietnam-China border

Go down  Message [Page 1 of 1]

ymoilman2


First currency trading center opened on Vietnam-China border

Posted by gg4 on December 3, 2014 at 7:13am
• Staff Reporter
• 2014-12-03
• 17:31 (GMT+8)


China has opened a currency trading center on the border with Vietnam, the first of its kind in the country that has effectively reduced rampant and illegal private foreign exchange trading there, Shanghai's China Business News reports.
In Vietnam, it requires tens of thousands of Chinese yuan to obtain the government's approval for the establishment of a bank, the main reason behind the rampant illegal private forex trading at the border, according to the report.
Before 2009, exchanges between the two currencies had to be conducted via US dollars in local banks, contributing to the rise of "bank stalls" that provided the illegal service of direct exchanges between the Chinese yuan and the Vietnamese dong in the cross-border region.


Merchants in Dongxing in southern China's Guangxi Zhuang autonomous region near the border with Vietnam had to conduct currency conversions through such "bank stalls," where there could a huge difference currency exchange rates from one stall to the next, the report said.
Since there was no official exchange rate from yuan to dong, the market price was determined by local "bank stalls" and the conversion process was simple and underdeveloped.
Since China established a currency trading center on the China-Vietnam border in April though, the situation of rampant illegal private currency trading has improved significantly.

The ASEAN (Association of Southeast Asian Nations) Currency Business Center, initiated by the Agricultural Bank of China in Dongxing, allows direct convertibility of yuan and dong by both individuals and companies.
China was Vietnam's largest trade partner in 2013 with its total turnover reaching US$50 billion, up 22% year-on-year, according to Vietnam customs authorities.
In 2013, Vietnam spent US$ 37 billion on imports from China, up 28.4%, while it exported US$ 13 billion worth of goods to China, up 7% year-on-year.
After it began promoting the yuan's globalization in 2009, China launched a series of programs to promote usage. These included a pilot program to expand the investment quota under its renminbi qualified foreign institutional investors (RQFII) that allows foreign investors access to stocks traded on China's mainland. They also liberalized the yuan's capital account in Shanghai's free trade zone.
The government has also launched a pilot scheme to boost the cross-border use of yuan and a scheme to connect the Shanghai stock exchange to its counterpart in Hong Kong, among others.

Visit stage3alpha at: http://s3alpha.net/?xg_source=msg_mes_network

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum